Delta Air expects daily cash burn of up to $14mln in fourth quarter

"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

  
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.

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 Nouvelage

Delta 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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