• ITVI.USA
    14,786.640
    2,951.100
    24.9%
  • OTRI.USA
    25.820
    -0.440
    -1.7%
  • OTVI.USA
    14,737.070
    2,949.900
    25%
  • TLT.USA
    2.740
    -0.070
    -2.5%
  • TSTOPVRPM.ATLPHL
    2.890
    0.260
    9.9%
  • TSTOPVRPM.CHIATL
    2.930
    -0.150
    -4.9%
  • TSTOPVRPM.DALLAX
    1.280
    0.100
    8.5%
  • TSTOPVRPM.LAXDAL
    3.000
    -0.210
    -6.5%
  • TSTOPVRPM.PHLCHI
    1.750
    0.120
    7.4%
  • TSTOPVRPM.LAXSEA
    3.280
    -0.080
    -2.4%
  • WAIT.USA
    126.000
    5.000
    4.1%
  • ITVI.USA
    14,786.640
    2,951.100
    24.9%
  • OTRI.USA
    25.820
    -0.440
    -1.7%
  • OTVI.USA
    14,737.070
    2,949.900
    25%
  • TLT.USA
    2.740
    -0.070
    -2.5%
  • TSTOPVRPM.ATLPHL
    2.890
    0.260
    9.9%
  • TSTOPVRPM.CHIATL
    2.930
    -0.150
    -4.9%
  • TSTOPVRPM.DALLAX
    1.280
    0.100
    8.5%
  • TSTOPVRPM.LAXDAL
    3.000
    -0.210
    -6.5%
  • TSTOPVRPM.PHLCHI
    1.750
    0.120
    7.4%
  • TSTOPVRPM.LAXSEA
    3.280
    -0.080
    -2.4%
  • WAIT.USA
    126.000
    5.000
    4.1%
Air CargoAmerican ShipperNews

Delta posts first quarterly loss since 2010

Delta Air Lines (NYSE: DAL) posted a $422 million pre-tax loss, or $0.51 per share, in the first quarter, for its first quarterly loss in almost a decade. 

Delta is the first passenger airline to report operating results in the coronavirus era. The second quarter financial picture is shaping up even worse since the full effects of shutdowns and travel restrictions because of the novel coronavirus didn’t materialize until March.

Delta’s total revenue clocked in at $8.6 billion, down 18% compared to the prior year, with total unit revenue down 13%. Cargo revenue fell 21% to $152 million.

Analyst consensus was for earnings per share of $0.83 and $9.5 billion in revenue.

The carrier said total expense decreased $450 million driven by lower fuel prices, but offset by a 9% increase in non-fuel unit costs. Fuel expenses decreased 19% compared to the same 2019 period. Delta paid an average of $1.81 per gallon, which included a $29 billion benefit from its own refinery operation in Philadelphia.

At the end of March, Delta had $6 billion in liquidity.

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Eric Kulisch, Air Cargo Editor

Eric is the Air Cargo Market Editor at FreightWaves. An award-winning business journalist with extensive experience covering the logistics sector, Eric spent nearly two years as the Washington, D.C., correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. He has won two regional Gold Medals from the American Society of Business Publication Editors for government coverage and news analysis, and was voted best for feature writing and commentary in the Trade/Newsletter category by the D.C. Chapter of the Society of Professional Journalists. As associate editor at American Shipper Magazine for more than a decade, he wrote about trade, freight transportation and supply chains. Eric is based in Portland, Oregon. He can be reached for comments and tips at ekulisch@freightwaves.com
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