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Delta aims to reduce daily cash burn to zero by the end of the year as it begins to ramp up its schedule to accommodate a small uptick in demand after the global coronavirus pandemic decimated air travel several weeks ago. Delta’s CFO Paul Jacobson says the airline recently saw a slight rise in bookings, and on some days bookings have even outstripped cancellations – a positive sign that passengers may be returning to air travel. That said, the airline will maintain a load factor cap of 60% and remain vigilant not to build up its schedule too quickly, since it is still unknown if a second wave of coronavirus infections may hit later in the year, and draw the industry into another downturn. “We are cautious about people getting out and moving,” Jacobson said Tuesday. “I’d like to be optimistic, but … we can’t afford to have false starts. We have seen a bounce off the bottom but my caution is not to draw too much in the way of conclusions on a data set [that] is not that conclusive.” <br/>

Airline Garuda Indonesia is preparing to propose a 3-year maturity extension to its $500m Islamic bonds that are coming due on June 3, the company said late Tuesday. Garuda said it has submitted the proposal to Indonesia’s Financial Services Authority, as well to bondholders through the Indonesia and Singapore stock exchanges, and the company will seek holders’ approval on June 10.<br/>