Delta Air Lines Inc. undefined said late Wednesday it is taking measures to remain liquid for the year as the COVID-19 pandemic trashes the airline's...
Delta Air Lines Inc. DAL, -7.40% said late Wednesday it is taking measures to remain liquid for the year as the COVID-19 pandemic trashes the airline's revenue. Delta shares fell 2.1% after hours, following a 7.4% decline in the regular session to close at $31.64. In a filing with the Securities and Exchange Commission, the airline said it expects second-quarter revenue to be off 90% from a year ago with capacity down 85%. Delta reported second-quarter revenue of $12.
Delta said it expects to reduce its daily cash outflow to $40 million by the end of June, down from the $100 million a day it was losing back on March 31, and hopes to reduce that to zero by the end of December.
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