United sees third-quarter daily cash burn under $40 million, still taking jet deliveries

(Reuters) – United Airlines Holdings Inc expects to reduce its daily cash burn to below $40 million in the third quarter, even with zero passenger revenues and no additional capital raisings, and will continue taking jet deliveries this year and next, executives said on a conference call.

Chicago-based United posted late Thursday a first-quarter loss of $1.7 billion, including charges against investments in Latin America, and said it expected to burn through $40 million to $45 million in cash per day in the second quarter.

(Reporting by Tracy Rucinski and Sanjana Shivdas; Editing by Chizu Nomiyama)