United Airlines warned Monday that it'll likely report a $2.1 billion quarterly pretax loss.
The worldwide health crisis has eviscerated global demand for travel.
United is taking over $1 billion in special charges, mainly from losses in Latin America.
It had partnered with Colombian firm on a carrier, Avianca, which hasn’t been flying since late March amid shutdowns in two main hubs.
United also wrote down investments in a Brazilian airline and took a $50 million impairment charge on its routes to China.
The carrier disclosed Monday it plans to borrow as much as $4.5 billion from the Treasury Department.
That would be in addition to the $5 billion it's set to get from a separate government payroll support package.
Like that payroll aid, the loan terms allow the feds to purchase United shares at a set price, meant to give taxpayers the chance to profit if the airline bounces back.
United shares dropped more than 3% Monday morning.