United sees around $15-20 million daily cash burn in Q4 if demand bounces

Chicago-based United flew only a fraction of its normal capacity in the second quarter and expects to fly about 35% of its normal summer schedule in the third quarter

United Airlines expects its daily cash burn rate to slow to between $15 million and $20 million in the fourth quarter, depending on the pace of a recovery in demand, executives said on a conference call on Wednesday.

Halting the cash burn, which averaged $40 million in the second quarter, will happen once United reaches a point in which sharp falls in demand and flight capacity have slowed to a roughly 50% decline.

"The second quarter of 2020 was historic for the airline industry for all the wrong reasons. At the beginning of April, we saw the sharpest, deepest drop in demand in