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Delta CEO: We're losing $60 million a day as the coronavirus pandemic rages on

Posted On: 3 Apr 2020   |   Posted By: Business Insider

Delta CEO: We're losing $60 million a day as the coronavirus pandemic rages on

Delta is burning through more than $60 million of cash each day, as it sees more than a 95% drop in demand from the same period last year.
In a memo to staff, CEO Ed Bastian said that the airline had canceled 115,000 flights for April, more than 80% of its schedule, as the coronavirus pandemic continues to decimate the airline industry.
Bastian also said that the airline had applied for payroll grants, part of the federal COVID-19 aid package .
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Delta Air Lines is burning through more than $60 million in cash every day as it continues to operate through the COVID-19 pandemic.
In a memo to staff on Friday, CEO Ed Bastian laid out some of the starkest numbers seen thus far in the crisis, demonstrating the scale of the hit to the global airline industry.
The airline is continuing domestic operations and several international routes, but it has canceled about 115,000 flights for April, Bastian said, or 80% of its total schedule. Last Sunday saw just 38,000...

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