Delta loses $11.63 billion through September from the impact of the coronavirus.

Follow us on social media and always stay updated

Delta Air Lines has registered a net loss of 11,630 million dollars (9,900 million euros) during the first nine months of the year, compared to the net profit of 3,669 million dollars (3,123 million euros) obtained in the same period last year, due to the impact of the coronavirus.

See also: Delta will retire its fleet of Boeing 717 and 767-300ER aircraft by the end of 2025.

Flight suspensions and movement restrictions in countries around the world have weighed down the accounts of the U.S. airline, which has lost 5,379 million dollars (4,578 million euros) in the third quarter of the year, between July and September alone.

With regard to turnover, the company reached until September a revenue of 13,122 million dollars (11,170 million euros), representing a fall of 63% over the same period last year, when this figure stood at 35,568 million dollars (30,277 million euros).

See also: Delta and Latam Airlines receive approval in Brazil for Joint Venture agreement.

The crisis has also caused operating expenses, which reached 24,733 million dollars (21,053 million euros), have been reduced by 19% compared to the first nine months of 2019.

“With a slow and steady increase in demand, we are restoring flight to meet the needs of our customers, while maintaining our capacity in light of the Covid-19,” said Glen Hauenstein, president of Delta. However, he warned that it may take “two years or more” before the company returns to a normalized revenue environment.

During the third quarter, the cash burn reached a figure of 24 million dollars a day (20.5 million euros), although in September this figure fell to 18 million dollars a day (15.3 million euros).

Delta, in response to the coronavirus crisis, has decided to restructure its Airbus and CRJ aircraft orders to better adjust the aircraft delivery schedule to the network and financial needs of the coming years.

This restructuring reduces aircraft purchase commitments by more than $2 billion (1.7 billion euros) in 2020 and by more than $5 billion (4.25 billion euros) until 2022.

By EuropaPress

Related Topics