Press release
As Q3 Ends, United Airlines Shifts from Surviving the COVID-19 Crisis to Positioning to Lead the Rebound
Aggressively adapting to impacts of COVID-19 helped weather the crisis and prepares the company for long term strength Expect Better Revenue Performance - On
About this update from United Airlines Holdings, Inc.
[{"type":"text","content":"Aggressively adapting to impacts of COVID-19 helped weather the crisis and prepares the company for long term strength\n Expect Better Revenue Performance - On Virtually Every YOY Metric - Than Any of Our Legacy Competitors\n\n\nCHICAGO, Oct. 14, 2020 /PRNewswire/ -- United Airlines (UAL) today announced third-quarter 2020 financial results. Since the beginning of the crisis, the company has been at the forefront of the industry in delivering on its three-pillar strategy of building and maintaining liquidity, minimizing cash burn and variabilizing its cost structure. Achieving these objectives has supported the airline's ability to manage the crisis as well as or better than its competitors and positions United to lead the industry when demand for air travel returns.\nIn addition, United expects that third-quarter revenue performance will be the best, even in a historically difficult environment, among our large network competitors - once they have all reported their quarterly results. By almost any revenue measure, the company expects on a year-over-year basis, with our total unit revenue of down 26 percent, passenger unit revenue of down 47 percent, cargo revenue of up 50 percent and loyalty revenue of down 45 percent to be stronger results than those that will be achieved by each of our legacy competitors.\n\"Having successfully executed our initial crisis strategy, we're ready to turn the page on seven months that have been dedicated to developing and implementing extraordinary and often painful measures, like furloughing 13,000 team members, to survive the worst financial crisis in aviation history,\" said United CEO Scott Kirby. \"Even though the negative impact of COVID-19 will persist in the near term, we are now focused on positioning the airline for a strong recovery that will allow United to bring our furloughed employees back to work and emerge as the global leader in aviation.\"\nUnited CleanPlus: Keeping Our Customers and Employees Safe\nPartnered with the Defense Advanced Research Projects Agency (DARPA) to study how effectively the unique airflow configuration on board an aircraft can prevent the spread of aerosolized particles among passengers and crew. Only airline maximizing ventilation systems by running the auxiliary power on mainline aircraft during the entire boarding and deplaning process, so our customer...