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Delta Air Lines Q2 loss $3.9 billion

Christian Fernsby |
Delta Air Lines reported a second quarter loss was $3.9 billion, which excludes $3.2 billion of items directly related to the impact of coronavirus and the company's response.

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Topics: DELTA   

Second quarter adjusted operating revenue was $1.2 billion, down 91 percent from a year ago.

Analysts expected revenue of $1.4 billion for the quarter.

Passenger revenues declined 94 percent on 85 percent lower capacity.

The company noted that demand for air travel declined significantly in the June quarter as a result of coronavirus, with enplaned passengers down 93 percent year over year.

Delta ended the June quarter with $15.7 billion in liquidity.

At the end of the June quarter, the company had total debt and finance lease obligations of $24.6 billion with adjusted net debt of $13.9 billion.

The company said it is aggressively managing costs through lower capacity, reduced fuel expense and cost initiatives including reduced work schedules and voluntary employee leaves of absence, parking aircraft, consolidating facilities and eliminating nearly all discretionary spend.

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