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Bloomberg
United Airlines Holdings Inc sank after failing to forecast when a demand rebound would improve results, about a week after Delta Air Lines Inc. said a profit was in reach by the third quarter.
This year will serve as a “transition†after the collapse in travel demand because of the coronavirus pandemic, United said as it reported fourth-quarter earnings. Chief Executive Officer Scott Kirby declined to put a timetable on when passenger loads would pick up, instead touting United’s goal of topping pre-pandemic profit margins in 2023.
“Nobody, including us, has a crystal ball,†Kirby said in a conference call with analysts. “Whether we reach an inflection point in the spring, the summer or the fall, what we know is that a recovery is coming.â€
The CEO’s long-term focus underscored the bleak outlook for the coming months
as the coronavirus pandemic continues to gut travel
demand.