ATLANTA - During its latest earnings call, Delta Air Lines (DAL) said it burned through $24 million of cash daily during the quarter and that figure was coming down to $18 million in September and by the end of the year it should be at $10 million per day. So, while Delta will continue bleeding cash, I do think they are on a good trajectory and what helps the company is their cost-conscious approach to the business that they had before the pandemic, Dhierin Bechai reports for SeekingAlpha. Continue reading original article.
The Intelligent Aerospace take:
October 23, 2020 -“While our September quarter results demonstrate the magnitude of the pandemic on our business, we have been encouraged as more customers travel and we are seeing a path of progressive improvement in our revenues, financial results and daily cash burn,” said Ed Bastian, Delta’s Chief Executive Officer. “The actions we are taking now to take care of our people, simplify our fleet, improve the customer experience, and strengthen our brand will allow Delta to accelerate into a post-COVID recovery.”
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