United Airlines became the latest large US carrier to report an annual loss due to the coronavirus, with company running $7.1 billion in the red last year.
NEW YORK: United Airlines on Wednesday reported it took a hefty loss in 2020 following the devastating hit Covid-19 did to travel, but the carrier eyed a partial recovery in 2021.
United reported an annual loss of $7.1 billion compared with profits of $3 billion in 2019. The big US carrier said it expects 2021 to be a “transition” year thanks to coronavirus vaccines as it pledged to exceed pre-Covid profit margins by 2023.
Revenues for last year fell 64.5% to $15.4 billion, the latest bruising data for a US airline after travel slowed to a trickle in March at the height of coronavirus restrictions before recovering partly later in the year.
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