United will cut flying by 50% in April and May and has asked its unions for help in cutting costs and the government for assistance get through the coronavirus crisis.
IAG Boss Willie Walsh Postpones Retirement Amid Coronavirus Crisis As Airline Group Aims To Cut Capacity 75%
“March is typically our busiest month of the year,” the airline’s two top leaders said. “But this year, in just the first two weeks of March, we have welcomed more than one million fewer customers on board our aircraft than the same period last year. We're also currently projecting that revenue in March will be $1.5 billion lower than last March.
At the same time, Insler noted that United “had the opportunity to build up its cash reserves and fully advocated for them to do so. In spite of ALPA’s warnings, they chose instead to spend company resources differently.” United, like other carriers, has spent heavily on stock buybacks. “Since late January, we have taken steps to aggressively manage this crisis and to keep you informed every step of the way - sharply reducing schedules, imposing a hiring freeze, introducing a voluntary leave program, dramatically reducing discretionary spending, cutting CEO base salary 100% and deferring a salary increase,” they said.
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