Amid a slowdown in air travel due to the coronavirus pandemic, United Airlines on Tuesday reported a $1.62 billion net loss for the second quarter. Overall revenue dropped 87% from the same figures in 2019 to around $1.48 billion.

United executives have scheduled a call with analysts to discuss the company’s future on Wednesday at 10:30 a.m. ET. Following this call, Southwest Airlines and American Airlines are scheduled to give their earnings calls Thursday.

Prior to this earnings call, United warned its global workforce that up to 36,000 employees could potentially be laid off in the near future. The conditions of the federal bailout for airlines prevent companies like United from cutting pay or implementing layoffs until the end of September.

“We expect that air travel is not likely to get back to normal until we're closer to a widely administered vaccine – so we're in this for the long haul,” United CEO Scott Kirby said. “And I am going to keep encouraging our team to explore and implement new ideas, new technologies, new policies and new procedures that better protect our customers and employees.”

On Monday, it was reported that United’s average occupancy rate may fall by around 45% in July. Up to 85% of the flights in runs are expected to top out at 70% of their maximum occupancy, since the company is attempting to keep customers at a distance while flying.

Like other airlines, United is facing a severe drop in demand for air travel due to COVID-19
Like other airlines, United is facing a severe drop in demand for air travel due to COVID-19 AFP / Daniel SLIM
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