Flight Industry losses with Corona

13 Likes comments off

As the whole world is in crisis, United Airlines also can’t be last in the queue, It has been reported with $2.1 billion for the starting months of this year and also bear the same amount of pre-tax losses for the adjustment. Various loans are issued under CARES Act loan programme. United Airlines will issue warrants under Payroll Support Program to purchase near about 15 million shares of United Airlines at a price of $31.50 each share.

IATA (Airline Industry Association) is demanding USA government to control the process and restart air service and reopen borders to have Economic stability.

Total Revenue is declined by 20% as compared to previous years, CARES Act will guide the Treasury department to make easy availability of passenger air carriers and help out with losses management with the result of this outbreak of pandemic.

As the booking of flights all around the world is halted due to Corona Virus, Airline Industry is having massive losses and some of Airline companies will go for Bankruptcy.

At current, United Airlines short-term liquidity figures are at around $6.3 billion, including $2 billion under its undrawn revolving credit facility. United Airlines also borrowed $2.75 billion under new secured term loan facilities in March and April.

Corona Covid 19 Airline Industry
You will get country wise live updates of Corona Covid19 Cases accross the world from our website:Country Wise Corona Patients/Cases

You might like

About the Author: Country Wise Codes Team