Dozens of Delta jets have been parked on the tarmac of the Birmingham-Shuttlesworth International Airport since last spring. The airline reported $5.4 billion in third quarter losses on Tuesday.With summer vacation travel weaker than expected and business travel a fraction of what it used to be, the losses continue to mount at Delta Air Lines.
After implementing deep airplane cleaning protocols and requiring passengers and crew to wear face masks, the industry had hoped for a boost in air travel over the normally busy summer months.
"We could be looking at anywhere from 10% to 20% reduction in the in the next couple of years when we get to that new normal of business travel," he added."Business travel was 50% of their revenue at one point," Peter McNally, an analyst at Third Bridge Group in New York, told the AP."It's a market that Delta has made the core of their business, so they will be forced to compete harder on the leisure side of the market to make up for that loss.
Delta has reduced its cash burn rate from a peak of close $100 million a day in April and $27 million a day over the summer, but the airline is still losing a little more than $18 million a day, as revenue in July, August and September was down 76 percent from the same three months last year. Near record air travel demand in the third quarter last year helped Delta record a profit of $1.5 billion.
Source: Holiday News (holidaynews.net)
Narrative correction: bad government decisions and constant fearmongering by mass media had a chilling effect on travel demand
good
How much was their tax cut by trump? How much stock did they buy back under that tax cut? Have executives cut their own pay?
Well fuck delta then.
Brett
How’s that compare to their stock buybacks over the past few years?
Boo fucking hoo
Hello, if possible could you bring awareness to the situation in Toledo OH? Only 5,000 of reported 60,000 ballots were sent out by a third party company -Midwest Direct - then they delayed answering to our Election Board over the delay for 4 days. They state that the ballots will
I wonder how big their government payout will be this time? But thank god America ain't no socialist place
Good. The carbon era is over. Stay home, consume less, save the earth.
That’s so Donald Trump can buy all the airlines up on the cheap after they all go bankrupt.
Ugd,
It’s almost as if pushing people to start traveling again too soon was short sighted and not actually in their best interest.
Thanks, government elitists, for locking down our nation and destroying our economy.
The fact that they had that much to lose says a lot.
Does that mean they are going to make more room between the seats? If not, they are not going to win anyone over with those crazy fees and charges for checking your bag under the plane.
🥱
So your saying that realDonaldTrump lack of a policy has HURT the airlines industry? That's what I thought
after I realized Delta paid a ton to the trump campaign, I'm clearing my balance and closing my account ASAP. sucks that they were my favorite airline.
but 'the economy is great, look at the market' 🤬
Know what would fix that? Defeating the virus.
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