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United Airlines Holdings Inc. stock (Nasdaq: UAL) fell late Wednesday after the airline reported a 78% drop in quarterly sales as the pandemic continued to crimp air travel.
United said it lost $1.8 billion, or $6.33 a share, in the third quarter, contrasting with earnings of $1 billion, or $3.99 a share, in the year-ago quarter.
Related: American Airlines downgrade, Delta’s weak third quarter weigh on airline stocks
Adjusted for one-time items, United lost $8.16 a share, versus an adjusted profit of $4.07 a share a year ago.
Total revenue dropped to $2.49 billion from $11.38 billion a year ago. Passenger revenue dropped 84% to $1.7 billion.
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