Delta Lowers Cash Burn, Aims for Breakeven by Early 2021
Delta Air Lines (NYSE: DAL) on Thursday said it expects to be burning through $30 million per day by the end of the second quarter, far better than its original $50 million daily burn goal, and expects to hit break even by next spring.
Airlines have been hard hit by the COVID-19 pandemic, which has crushed demand for travel and left the companies scrambling to raise cash to avoid liquidity issues. Delta was burning through nearly $100 million per day at the height of the crisis, but has cut costs by bringing down its schedule and retiring a number of fleet types.
Image source: Delta Air Lines.
Source Fool.com
