United Airlines sees $2.1 billion coronavirus-driven quarterly loss

United Airlines said Monday that it expects to report a pretax loss of about $2.1 billion in the first quarter, as it grapples to conserve cash and borrow money amid a sharp drop in travel demand from the coronavirus pandemic.

Why it matters: The Chicago-based airline says federal grants and loans, along with creative financing for planes on order, will help keep the company afloat through September — but with travel demand uncertain for the remainder of the year, it has warned employees to brace for layoffs.