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Delta Loses $534 Million In 1Q; Much Bigger Losses Looming
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Delta Air Lines, the biggest and most profitable U.S. airline, is reporting a $534 million loss for the first quarter, a setback that will appear trivial when the full force of the pandemic is revealed in the current quarter.
Delta warned Wednesday that revenue during the April-through-June quarter, typically a period of harried travel, will plummet by 90% compared with last year, when there were no government travel restrictions and flights were full. CEO Ed Bastian said, ““These are truly unprecedented times for all of us.”
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