Associated Press reports that Delta Air Lines lost $5.7 billion during a brutal three-month stretch in which the coronavirus pandemic brought travel to a near standstill, and any hoped-for recovery has been smothered by a resurgence of infected Americans.
“Growth has stalled,” Delta CEO Ed Bastian noted. “It was growing at a pretty nice clip through June. The virus, unfortunately, was also growing.”
Bastian said it will take over two years for the airline to make “sustainable” recovery.
Delta is the first U.S. airline to report financial results for the May-through-June quarter, and the numbers were ugly.
Passengers boarding Delta planes dropped 93% from a year earlier, revenue plummeted 88%, and the company’s losses were worse than anticipated.
Read the full report at thenationalherald.com
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