United to trim international flights
United Airlines is to reduce international capacity in the last four months of the year.
The seven per cent cut is being made “in an effort to better match supply with demand”.
The move was flagged up as the carrier reported a £323 million second quarter net loss for the three months ending June 30.
Chief financial officer Kathryn Mikells said: "We are taking aggressive actions to position United for recovery, including reducing our international capacity by an additional seven per cent later this year, implementing industry-leading unit cost reductions, and bolstering our liquidity.
“We have more than $1 billion in unencumbered assets, and a proven track record of being able to leveraging those assets to raise capital."
UAL Corporation chairman, president and CEO Glenn Tilton said: “This is a resilient industry, and we are a resilient company," said Glenn Tilton.
Phil Davies
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