Delta Air Lines HA has announced June quarter 2020 adjusted pre-tax losses of $3.9 billion, while reporting its financial results.
Delta has already provided more than US$2.2 billion in cash refunds in 2020.
The airline says that at the end of the June quarter, it had US$15.7 billion in liquidity.
At present Delta has more than 700 of its aircraft parked.
“A $3.9 billion adjusted pre-tax loss for the June quarter on a more than $11 billion decline in revenue over last year, illustrates the truly staggering impact of the COVID-19 pandemic on our business. In the face of this challenge, our people have acted quickly and decisively to protect our customers and our company, reducing our average daily cash burn by more than 70 percent since late March to $27 million in the month of June,” said Ed Bastian, Delta’s chief executive officer.
“Given the combined effects of the pandemic and associated financial impact on the global economy, we continue to believe that it will be more than two years before we see a sustainable recovery. In this difficult environment, the strengths that are core to Delta’s business – our people, our brand, our network and our operational reliability – guide every decision we make, differentiating Delta with our customers and positioning us to succeed when demand returns.”
Delta’s total operating expense decreased $4.1 billion over the prior year. Demand for air travel declined significantly in the June quarter as a result of COVID-19, with enplaned passengers down 93 percent year over year.
As a result, Delta’s adjusted operating revenue of $1.2 billion for the June quarter was down 91 percent versus the June 2019 quarter. Passenger revenues declined 94 percent on 85 percent lower capacity.
Non-ticket revenue declined 65 percent, as Cargo, MRO and Loyalty revenues declined at a lower rate than ticket revenue.
Delta Delta will transform to a smaller, more efficient airline over the next several years by accelerating fleet simplification with the retirement of entire MD-88, MD-90, 777 and 737-700 fleets and portions of its 767-300ER and A320 fleets this year.
TransNusa is set to become the first foreign airline to operate from Sultan Abdul Aziz Airport, commonly known as Subang…
SATS Ltd, a Singapore-based provider of air cargo handling services and food solutions, has entered into a Memorandum of Understanding…
The Royal Thai Air Force (RTAF) has chosen the Swedish-manufactured SAAB JAS 39E/F Gripen over the American Lockheed Martin F-16…
Batik Air Malaysia has unveiled two new routes from Kuala Lumpur to Thailand, with Hat Yai and Krabi being the…
Boeing and Emirates SkyCargo have announced an order for five additional 777 freighters. The purchase takes Emirates' order book to 245…
Boeing aircraft will be conspicuous by their near-total absence from the show, but the American OEM is expected to walk…
Eve Air Mobility will provide an update on key program milestones, including its first full-scale prototype, at the Farnborough Air…
Boeing, which is not bringing any of its commercial jets to this year's Farnborough Airshow, will instead focus on highlighting…
Gulfstream Aerospace has appointed Smitha Hariharan as vice president and chief sustainability officer, effective immediately. In the newly created role,…
Rafael Advanced Defense Systems has been upgraded to an 'A' credit rating by S&P Global Ratings, with a stable outlook.…
Qantas will likely use a North Pole route to achieve its Project Sunrise Sydney to London nonstop with the A350-1000…
Fincantieri marked an important milestone with the launch of the seventh PPA (Multipurpose Combat Ship), named "Domenico Millelire," at the…
Sierra Space Corporation, in collaboration with Japan Airlines Co., Ltd., Kanematsu Corporation, and Oita Prefecture, has announced the inclusion of…
The Malaysian Army has recently announced a tender inviting local companies to supply and deliver 800 M72 Light Anti-tank Weapon…
China has proposed supplying the Type 052D destroyer to the Indonesian Navy (TNI AL) as part of a broader effort…
Following the recent signing of the Reciprocal Access Agreement (RAA) between the Philippines and Japan, reports suggest that the Philippines…
The U.S. military has awarded SRC, Inc. a contract worth USD 25 million to develop the Long-Range Radar, a large…
Australia’s largest international air combat training exercise, Exercise Pitch Black, is set to take place from 12 July to 2…
The Spanish space launcher company, PLD Space, has secured a EUR31.2 million syndicated loan with Banco Santander, EBN Banco, and…
Malaysia Airlines’ inaugural A330neo has been unveiled in Toulouse, proudly displaying the airline’s distinctive Malaysia flag livery. This milestone marks…
IFS, a Sweden-based provider of cloud and industrial AI software, has announced the acquisition of EmpowerMX - an AI-powered aviation…
The Indonesian Navy (TNI AL) launched two new Dorang-class patrol vessels in Serang, Banten province, on Friday (Jul. 12). Constructed…
Vietjet, in partnership with the Ministry of Public Works and Transport of Laos, has announced a new agreement aimed at…
China Southern Airlines (CSN) and Malaysia Airlines (MAS) have expanded their codeshare flights to encompass three new routes: Guangzhou-Penang, Kuala…
Saudi Arabia has ordered four additional Airbus A330 Multi Role Tanker Transport (MRTT) aircraft for the Royal Saudi Arabia Air…
Embraer's brand-new E-Freighter, the E190F, will make its first public appearance at the Farnborough International Airshow that will take place…
WestJet Cargo has announced the launch of its new Campus'Air service, aimed at providing affordable shipping solutions for students and…
SITA has reported a record revenue of nearly US$ 1.5 billion for 2023, marking a 7% increase from the previous…
ASELSAN achieved a significant milestone in its space research and satellite payload development with the successful launch of the TURKSAT-6A…
Japan and the Philippines have formalised a defence pact through the Reciprocal Access Agreement (RAA), aimed at facilitating joint exercises…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.