Delta Air Lines will cut existing flights by 40% to deal with a nosedive in travel demand, and it is talking to the White House and Congress about assistance to get through the downturn.

The 40% cut in passenger-carrying capacity is the largest in Delta’s history, surpassing reductions that were made after the September 2001 terror attacks.

And the outlook for airlines is still getting worse.

“The speed of the demand fall-off is unlike anything we’ve seen – and we’ve seen a lot in our business,” CEO Ed Bastian said in a memo to Delta’s 90,000 employees Friday.

“We are in discussions with the White House and Congress regarding the support they can provide to help us through this period. I’m optimistic we will receive their support,” he said, adding however that the airline “can’t put our company’s future at risk waiting on aid from our government.”

Bastian said the airline is preserving cash and reducing costs.

and the its

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Boeing may slash staff by 10% amid coronavirus crisis & 737 MAX fiasco

The plane maker could offer its workers early retirement as well as voluntary layoffs, the outlet said, citing sources, adding that the plan could also include buyouts. The company has not made the final decision yet. Boeing’s commercial unit could…

UniCredit may make announcement later on Friday on CEO Mustier’s future: sources

MILAN (Reuters) – Italy’s biggest bank UniCredit (CRDI.MI) may make an announcement as early as Friday night on the future of boss Jean Pierre Mustier, two sources familiar with the matter said, after reports he is vying for the top…

Alphabet’s Google puts up fight against EU fine

In a three-day hearing before the Luxembourg-based General Court starting Wednesday, US online juggernaut Google intends to pave the ground for seeing European Union antitrust regulators overturn one of three hefty EU fines that Brussels had imposed on the Alphabet…

Micron raises third-quarter revenue forecast

(Reuters) – Micron Technology Inc (MU.O) raised its revenue forecast for the third quarter on Wednesday to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion, sending its shares about 3% higher. The chipmaker said…