As the airline industry continues to struggle amid the ongoing coronavirus pandemic, Delta Airlines on Tuesday posted a $5.4 billion loss in the third quarter after spending billions on buyouts for employees and restructuring its fleet. Delta’s third quarter revenue was $3 billion, down from $12.5 billion in the same period last year.
The carrier said its losses related to the coronavirus pandemic—including those buyouts and fleet changes—totaled $4 billion. Shares of Delta fell 1% in premarket trading Tuesday morning, and the stock is down more than 46% for the year.. That’s how much Delta said it would borrow in a new debt deal last month, backed by its SkyMiles frequent flyer program. The company said it would use the money to shore up liquidity during the pandemic.
Democrats are destroying the airline industry
Isn’t this the free market all the 1% Republicans say they want? Or is that only when they’re making $$?