Delta projects 80% drop in second-revenue, or $10 billion; it is burning through $50 in cash per day

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Delta projects 80% drop in second-quarter revenue because of coronavirus

Delta Air Lines Inc. DAL, -0.

74% warned in an 8K filing on Friday that second-quarter revenue will plunge 80%, or $10 billion, as it burns through $50 million in cash per day because of coronavirus. The largest airline also said it was suspending stock buybacks and its dividend, and has sought a $2.6 billion line of credit.

 

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