United losses $2 billion in Q1 launches rights offering 

United Airlines made a more than $2 billion loss in the first quarter, more than half of its entire 2019 profit as the COVID 19 pandemic destroys nearly all air travel demand. The Chicago-based carrier lost $2.1 billion before taxes during the three months ending in March. The result is the first reported loss for the period among the US carriers but it likely to be followed by others. United also announced it’s underwritten a public offering of 39,250,000 shares of its common stock, subject to market conditions. Morgan Stanley and Barclays are acting as the underwriters of the offering.