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Reuters – March 18, 2020 – Delta parks 600 jets and scales back flights as revenue tanks

Posted on March 19, 2020


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…

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