Delta Air expects daily cash burn of up to $14mln in fourth quarter
Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, U.S. March 25, 2020. Image used for illustrative purpose.
REUTERS/Elijah NouvelageDelta Air Lines said on Thursday it expects a cash burn of about $12 million to $14 million per day in the fourth quarter, with slowing demand resulting in an additional burn of about $2 million per day.
"We've seen some slowing of demand and forward bookings as COVID cases have risen across the U.S," Chief Executive Ed Bastian said in a memo.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
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