The airline said its loss, excluding special items, came in at $326 million, compared to a $639 million profit a year earlier. Revenue in the quarter fell $1.9 billion compared to a year ago, an 18% drop. The miles flown by paying passengers fell by 17%.But the quarter was only the beginning of the problems for the carrier: Delta confirmed its previous warning that it expects revenue to be down 90% in the current quarter.
The loss at Delta was smaller than the loss forecast by Wall Street analysts surveyed by Refinitiv. Every US airline is forecast to report losses of its own for the first three quarters of this year, at least. Read MoreFirst-quarter operating losses for the US industry are forecast to reach at least $2 billion. United Airlines has warned it will report a $1 billion pre-tax operating loss itself in the first quarter, as it said demand for air travel has fallen to"essentially zero.
I have no sympathy for the airlines - they charge a fee for everything and have downgraded service so bad that you have to pay an extra $100 for 5 inches of more leg room. It deserves to collapse, so something better comes out.
Womp womp
Businesses are facing huge losses | huge global recession witnessed Latest updates | cases per million population👇 Corona COVIDー19
Maybe they should have put some of their billions of dollars of profit into an emergency fund instead of inflating their stock price
And Do what a small business would do to stay a float... like selling sale a few assets, or scrap a few planes...
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