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Delta posts Q2 loss Of USD5.7 billion
Delta Air Lines posted a huge second quarter loss of $5.7 billion as the travel rebound stalls.
It was Delta’s biggest loss for more than a decade.
After a gradual increase in demand in the past few weeks, booking growth is now declining as infection rates continue to surge across many states.
It is only adding half as many flights in August as it had earlier planned.
"The recovery will be choppy waves. There isn’t a clear timeline when international borders will open for US travelers," said CEO Ed Bastion.
"It’s against that uncertain backdrop that we are taking the industry’s most conservative approach to capacity."
Bastion sees a long road ahead before business travel demands gets anywhere near pre-pandemic levels.
"The number of trips that the average road warrior takes I’m sure is going to come down in certain cases."
The airline posted an adjusted net loss of $2.8 billion with nearly $2 billion in write-downs due to investments in partners Latam and Aeromexico.
Both airlines have filed for bankruptcy protection.
by Ray Montgomery, US editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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