United Counts on $19 Billion Cushion as New Loss Disappoints
- CEO says ‘we’re ready to turn the page,’ position for recovery
- Third-quarter results lagged Wall Street estimates amid crisis
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United Airlines Holdings Inc. says it’s ready to pounce on any travel rebound while riding out an unprecedented industry slump that is hurting the company’s results even more than expected.
The carrier posted a third-quarter adjusted loss of $8.16 a share, worse than the $7.47 shortfall that was the average of analyst estimates. But United lowered daily cash burn to $25 million from $40 million in the previous three-month period, and had $19.4 billion in liquidity at the end of September, according to a statement Wednesday.