• ITVI.USA
    16,350.840
    -55.350
    -0.3%
  • OTLT.USA
    2.731
    0.025
    0.9%
  • OTRI.USA
    21.660
    -0.160
    -0.7%
  • OTVI.USA
    16,343.200
    -45.660
    -0.3%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
  • ITVI.USA
    16,350.840
    -55.350
    -0.3%
  • OTLT.USA
    2.731
    0.025
    0.9%
  • OTRI.USA
    21.660
    -0.160
    -0.7%
  • OTVI.USA
    16,343.200
    -45.660
    -0.3%
  • TSTOPVRPM.ATLPHL
    3.520
    0.380
    12.1%
  • TSTOPVRPM.CHIATL
    2.960
    -0.660
    -18.2%
  • TSTOPVRPM.DALLAX
    1.610
    0.250
    18.4%
  • TSTOPVRPM.LAXDAL
    3.340
    -0.130
    -3.7%
  • TSTOPVRPM.PHLCHI
    2.100
    -0.250
    -10.6%
  • TSTOPVRPM.LAXSEA
    3.860
    -0.220
    -5.4%
  • WAIT.USA
    126.000
    -2.000
    -1.6%
Air CargoAmerican ShipperBusinessCompany earningsFinanceLayoffs and BankruptciesNewsSupply Chains

Delta faces ‘staggering’ Q2 loss in face of COVID-19

Atlanta-based airline posted $3.9 billion pretax loss for the second quarter

Delta Air Lines (NYSE: DAL) posted a $3.9 billion pretax loss for the second quarter, ending June 30, on a more than $11 billion drop in revenue from last year.

Ed Bastian, the Atlanta-based carrier’s CEO, said the dramatic loss “illustrates the truly staggering impact of the COVID-19 pandemic on our business.”

The airline had anticipated a continued deterioration in revenue since earlier this year when it grounded more than 90% of its passenger flights due to government travel restrictions to combat the spread of the novel coronavirus.

Delta’s total revenue for Q2 reached about $1.5 billion, down 88% compared to the prior year, with total unit revenue down 21%. Cargo revenue dropped 42% to $108 million.

The airline benefited earlier this year from $1.3 billion in CARES Act relief funding from Congress and launched a $2.5 billion restructuring plan, which included the announcement of accelerated aircraft retirements.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.

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