Delta parks 600 jets and scales back flights as revenue tanks
BUSINESS NEWSMARCH 18, 2020 / 10:19 AM / A DAY AGO by Tracy Rucinski
CHICAGO (Reuters) – Delta Air Lines (DAL.N) said on Wednesday it was parking more than 600 jets, cutting corporate pay by as much as 50%, and scaling back its flying by more than 70% until demand begins to recover from the coronavirus epidemic hit.
In a memo to employees, Delta Chief Executive Ed Bastian said the company would continue taking “all necessary self-help measures,” with cash preservation the top priority, even as it remains optimistic of industry support from the White House and Congress.
The Trump administration on Wednesday proposed…