RE:2nd Quarter resultsSome details UPDATE 1-Air Canada posts quarterly loss as COVID-19 hammers demand 07/31/20 - 06:37 AM ET - Reuters (Adds details on net cash burn, CEO comment, background) July 31 (Reuters) - Air Canada reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand. The airline forecast third-quarter net cash burn of between C$15 million ($11.18 million) and C$17 million per day on average, compared with net cash burn of about C$19 million per day in the previous quarter. Rising COVID-19 cases in Canada and the United States have dampened hopes for a swift recovery in demand for air travel as countries re-impose restrictions and passengers balk at flying for fear of contracting the virus. "Canadas federal and inter-provincial restrictions have been among the most severe in the world, effectively shutting down most commercial aviation in our country," said Chief Executive Officer Calin Rovinescu, adding that the airline saw a 96% drop in passengers carried during the second quarter. European airlines and Air Canada have urged the Canadian government to remove pandemic-related restrictions. Air Canada had C$9.12 billion in liquidity, as of June 30. It forecast third-quarter capacity to decline by about 80%, higher than an earlier forecast of at least 75%. Total revenue plunged 89% to C$527 million. Canadas largest carrier said net loss was C$1.75 billion, or C$6.44 per share, in the quarter ended June 30, compared with a profit of C$343 million, or C$1.26 per share, a year earlier. ($1 = 1.3418 Canadian dollars) ($1 = 1.3412 Canadian dollars) (Reporting By Allison Lampert in Montreal and Sanjana Shivdas in Bengaluru; Editing by Aditya Soni)