United Airlines  (UAL) – Get Report said that its financial outlook is improving and that it’s taking a new $5 billion loan, backed by its mileage awards program. 

By the end of the third quarter, the Chicago carrier said in a Securities and Exchange Commission filing, it expected to have $17 billion in available liquidity, also including a $4.5 billion federal loan under the Cares Act .

“The company continues to see a steady improvement in demand in domestic and certain international destinations, with a more than 70% reduction in customer cancellation rates since the high rates experienced in April 2020,” United said.

“June ticketed-passenger revenue is expected to be up close to 400% versus April,” the airline said. “Net bookings for the remainder of the second quarter and the third quarter have remained positive since the end of May.”

For July, United expects domestic capacity to plummet 70% from a year earlier but to almost double from June 2020 . It sees passenger revenue soaring 50% to 100% from its revenue estimate for June 2020.

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