According to a AJC report, Atlanta-based Delta Air Lines lost $534 million during the first quarter of 2020. Delta is cutting its flight 85% during the COVID-19 pandemic.
After performing strongly in the first part of the year, Delta’s business dropped quickly in March due to the travel restrictions and stay-at-home orders. To help offset the loss of business, the company has made aggressive cost-cutting measures including reduced payroll and pay cuts, parking jets and closing airport concourses.
For the April through June time period, domestic flights will be cut down by 80%, international flights by 90%. 37,000 of the company’s employees have agreed to take voluntary unpaid leave.
Additionally, Delta has been shoring up its finances, already receiving $2.7 billion in federal relief through the Coronavirus Aid, Relief and Economic Security Act. The company has been burning up to $100 million dollars a day during the pandemic and they are hoping to reduce that number to $50 million by the end of June.