UAL CEO Sees Cash Burn Rate 'Significantly' Better In Q2

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UAL CEO Sees Cash Burn Rate 'Significantly' Better In 2nd Quarter

WASHINGTON -(Dow Jones)- UAL Corp. (NYSE: UAL - News) expects that its second-quarter cash burn rate will be "significantly" better than the $5 million-a-day burn rate it reported for the first quarter.

According to an 8-K filed Wednesday with the Securities and Exchange Commission, Chairman and Chief Executive John W. Creighton Jr. will provide this information at the Merrill Lynch Global Transportation Conference Wednesday.

The filing also said that, based on the company's data for May, United Airlines' unit revenue was down 3% to 4% year-over-year, which the company believes may beat the industry average.