Delta Will "Permanently Retire" the Boeing 777

With COVID-19 having destroying demand for air travel, Delta Air Lines (NYSE: DAL) has grounded "more than 650" of its aircraft -- or about 73% of its fleet. More than that, the company says it has begun retiring its entire fleet of 45 smaller MD-88 and MD-90 aircraft. Now comes the next shoe to drop: Delta is retiring its fleet of Boeing 777s.

Image source: Getty Images.

In a filing with the SEC this morning, Delta included a letter from CEO Ed Bastian to its "Delta Colleagues Worldwide." Therein, Bastian explained that Delta is charting a course toward "a smaller network, fleet and operation," and that part of this plan includes retiring its entire fleet of 18 Boeing (NYSE: BA) 777 airplanes by the end of the year.

Source Fool.com