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United not flying so high with four quarters of consecutive lossesINTL

United not flying so high with four quarters of consecutive losses

United Airlines (UAL) posted a consecutive quarterly loss and warned that its revenue will take a while to recover as the coronavirus pandemic continues to drag on in the USA.

United’s fourth-quarter revenue fell 69% from the previous year to $3.41b. It predicts its 2019 margins will be realized again only by 2023.

Similar financials have been echoed by other large US and global carriers. Meanwhile, Emirates and Etihad, at least, are on an upward trajectory, as the tourism season in the UAE and travel corridors have provided much-needed relief to their financials.

why it matters
The airline industry worldwide is struggling to survive, and many are counting on their respective government's support to help them through this pandemic. Many have shut down their operations or reduced them considerably. Flybe, Avianca, LATAM Airlines, and Virgin Atlantic all filed for bankruptcy protection, to name a few.