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  • ITVI.USA
    14,306.180
    39.530
    0.3%
  • OTRI.USA
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    -0.260
    -1.2%
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    14,275.890
    38.270
    0.3%
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    2.630
    -0.020
    -0.8%
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    0.060
    2.4%
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    0.270
    12.3%
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    0.050
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    9.1%
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    5.000
    4.9%
  • ITVI.USA
    14,306.180
    39.530
    0.3%
  • OTRI.USA
    21.590
    -0.260
    -1.2%
  • OTVI.USA
    14,275.890
    38.270
    0.3%
  • TLT.USA
    2.630
    -0.020
    -0.8%
  • TSTOPVRPM.ATLPHL
    2.540
    0.060
    2.4%
  • TSTOPVRPM.CHIATL
    2.460
    0.270
    12.3%
  • TSTOPVRPM.DALLAX
    1.360
    -0.040
    -2.9%
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    2.910
    0.180
    6.6%
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    1.490
    0.050
    3.5%
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    3.130
    0.260
    9.1%
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    108.000
    5.000
    4.9%
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.

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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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