United Airlines Holdings Inc. (UAL) said Wednesday it was adding nearly 25,000 flights to its August schedule, which will be triple the size of the June schedule. The stock fell 0.8% in premarket trading. That would bring the air carrier's overall August schedule to 40% of its August 2019 schedule. In the U.S., United plans to fly 58% of its 2019 schedule, up from 30% in July, while internationally, United is scheduled to fly 25% of its August schedule, up from 16% in July. "We're taking the same data-driven, realistic approach to growing our schedule as we did in drawing it down at the start of the pandemic," said Ankit Gupta, United's vice president of Domestic Network Planning. "Demand is coming back slowly and we're building in enough capacity to stay ahead of the number of people traveling." The stock has tumbled 60.7% year to date through Tuesday, while the U.S. Global Jets ETF (JETS) has dropped 47.2% and the S&P 500 has slipped 4.0%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 01, 2020 07:20 ET (11:20 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.