United, American Airlines report large losses on COVID-19 hit

New York (AFP) – American Airlines and United Airlines both reported big losses Thursday following the steep decline in business due to the coronavirus outbreak.The two carriers, each of which received support under the $2.2 trillion federal CARES Act passed last month, emphasized efforts to reduce their cash burn and build liquidity to survive what leading airline executives have described as the worst operating environment in their lifetime. The International Air Transport Association has estimated global airlines will lose $314 billion in 2020 revenues due to the coronavirus.”While we are s…

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