Delta reports first loss in 5 years
Delta Air Lines reported its first quarterly loss in over 5 years, as the coronavirus pandemic ravaged the travel industry. With much of the world subject to travel restrictions and govt orders to stay home, air travel has largely ceased. Passenger volumes have plummeted 95% in the US, and airlines expect fears of illness to weigh heavily on travel demand for the foreseeable future. For Delta and other airlines, the virus interrupted a historic boom in business. Delta had posted 10 consecutive years of annual profits and was anticipating another year of buoyant demand in 2020. Delta CE Ed Bastian told employees the recovery could take 2 to 3 years. “We do know that Delta will be a smaller airline for some time, and we should be prepared for a choppy, sluggish recovery even after the virus is contained,” he said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-04-23/sky/delta-reports-first-loss-in-5-years
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Delta reports first loss in 5 years
Delta Air Lines reported its first quarterly loss in over 5 years, as the coronavirus pandemic ravaged the travel industry. With much of the world subject to travel restrictions and govt orders to stay home, air travel has largely ceased. Passenger volumes have plummeted 95% in the US, and airlines expect fears of illness to weigh heavily on travel demand for the foreseeable future. For Delta and other airlines, the virus interrupted a historic boom in business. Delta had posted 10 consecutive years of annual profits and was anticipating another year of buoyant demand in 2020. Delta CE Ed Bastian told employees the recovery could take 2 to 3 years. “We do know that Delta will be a smaller airline for some time, and we should be prepared for a choppy, sluggish recovery even after the virus is contained,” he said. <br/>
