United Airlines To Report $2.1 Billion Pre-tax Loss

United Airlines jet; picture credit Reuters

Chicago-based United Airlines has reportedly stated that it is expecting to report a $2.1 billion pre-tax Loss in the first quarter of 2020.

The expected loss, according to a report by Reuters, is due to the coronavirus.

America has recorded over 740,000 cases of the virus and 41, deaths.

Reports say United Airlines made revelation on Monday, April 20.

United is said to be badly hurt by the drop in travel demand due to the coronavirus outbreak.

Reports say the fall in travels has weighed on its investments in Latin America.

“The loss includes just over $1 billion in special charges, mainly reflecting a reserve on a loan United made in connection with an investment in Colombia’s Avianca Holdings (AVT_p.CN) as part of its plans for a larger tie-up in Latin America,” according to reports.

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