United Airlines, one of the major airlines in the USA, announced that it lost $ 7.1 billion last year due to the new type of coronavirus (Covid-19) pandemic.
United Airlines announced its balance sheet for the fourth quarter of 2020.
Accordingly, the airline company made a loss of $ 1.9 billion in the last quarter of last year. The company made a profit of $ 641 million in the fourth quarter of 2019.
United Airlines’ loss was calculated as $ 7.1 billion in 2020. The airline company announced a profit of $ 3 billion in 2019. The company’s operating income in the last quarter of last year fell by 68.7 percent compared to the same period of the previous year to 3.4 billion dollars.
United Airlines generated $ 10.9 billion in revenue in the same period of 2019.
The revenue of the airline decreased by 64.5 percent compared to the previous year in 2020 to 15.4 billion dollars. United Airlines’ revenue was estimated at $ 43.3 billion in 2019.
The company’s loss per share was $ 6.39 in the last quarter of last year. United Airlines announced that its earnings per share was $ 2.53 in the same period of 2019.
United Airlines’ damage in 2020 was affected by the Covid-19 outbreak and travel restrictions imposed against the pandemic.