Delta Airlines: heavy Q2 loss due to pandemic
(CercleFinance.com) - Delta Airlines posted an adjusted loss per share of 4.
43 dollars for the second quarter, slightly higher than analysts feared, reflecting the huge impact of the health crisis on the airline industry.
The Atlanta-based airline posted a 91% collapse in adjusted total revenues to 1.2 billion dollars, while adjusted operating expenses were only cut by 53% to 5.5 billion dollars.
Ed Bastian, Delta's chief executive officer, said, "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".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
43 dollars for the second quarter, slightly higher than analysts feared, reflecting the huge impact of the health crisis on the airline industry.
The Atlanta-based airline posted a 91% collapse in adjusted total revenues to 1.2 billion dollars, while adjusted operating expenses were only cut by 53% to 5.5 billion dollars.
Ed Bastian, Delta's chief executive officer, said, "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".
Copyright (c) 2020 CercleFinance.com. All rights reserved.