United Airlines’ bookings plummet 70 percent
United Airlines says it has experienced a hefty 70% drop in travel demand on domestic routes in the past few days.
Coronavirus fears are keeping travelers at home, says United president Scott Kirby.
Bookings have all but collapsed on Asia and Europe services.
However the airline says it can weather the ‘dire’ situation.
The airline is bracing for a revenue decline of up to 70% in April and May, and around 60% in June as a worst case scenario because ‘hope is not a strategy’ Kirby said at the J.P. Morgan Industrials Conference.
The conference was remotely webcast due to the coronavirus outbreak.
United has put new hiring on hold and is reducing planned investment by about $1.5 billion this year.
Although a carrier of United’s size will weather the crisis, some outside the US which normally operate on thin margins may not survive, Kirby said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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