Delta Airlines publicly divulged its third-quarter financials on Tuesday, revealing an almost $5.4 billion loss on a net basis. This emphasized what CEO Ed Bastian called “the magnitude” of the effects that the coronavirus pandemic had on the airline industry.
While Delta met its expected total operating revenue of $3.1 billion, its adjusted net income loss came to $2.09 billion, thus exceeding its estimated loss of $1.87 billion. This challenging circumstance has contributed to the large scale dismissal of workers that Delta and other airlines have had to endure during these times.
While finances remain an issue, Delta continues to hold the health of their workers and the public as a top priority. As such, the airline is still operating minimal flights at lower than usual capacities.
Delta CEO Ed Bastian made the following statement regarding the coronavirus situation: “The actions we are taking now to take care of our people, simplify our fleet, improve the customer experience, and strengthen our brand will allow Delta to accelerate into a post-COVID recovery.
We have been encouraged as more customers travel and we are seeing a path of progressive improvement in our revenues, financial results, and daily cash burn.”
