Delta said it plans to halve its cash burn rate to $50 million a day by the end of the second quarter.Financial results of Delta and other carriers are expected to worsen in the second quarter.
The Atlanta-based carrier's revenues plunged 18% in the first three months of the year to $8.6 billion. CEO Ed Bastian said second-quarter revenue will likely fall 90% from the same period of 2019 and forecast a long recovery, telling employees that the airline will be smaller in the future. The carrier burned through $100 million a day at the end of March, a rate it expects to halve by the end of the second quarter.
nickwaye Let them go bankrupt Assets will be sold at auction to a leaner meaner more efficient new owner who will be much less leveraged and not paid for by tax payers
There is a bit of karmic payback for the industry after years of removing capacity artificially to increase price + adding ever more seats. Now, 5%.
Look up flights , more expensive now
We could be following the Swedish model and avoiding all of this....