2020-10-14 06:43

Delta Air Lines reports third quarter losses of $5.4billion as COVID-19 pandemic continues to hammer the travel industry vTS世界播



The summer travel season was even worse than expected for Delta Air Lines, which said Tuesday that it lost $5.4billion in the third quarter as people hunkered down at home during the pandemic. vTS世界播

达美航空公司(Delta Air Lines)的夏季旅行季节甚至比预期的还要糟糕,该公司周二表示,由于疫情期间人们躲在家里,公司第三季度亏损54亿美元。vTS世界播

Delta officials pushed back their timetable for breaking even, from year-end to next spring, as their previous expectation that COVID-19 would be contained proved too rosy. vTS世界播


The airline's shares slipped in afternoon trading. vTS世界播


However, executives said passengers are starting to return and bookings for Thanksgiving and Christmas are looking up. vTS世界播


'It's slow, but it's steady - week by week, they are coming back,' CEO Ed Bastian said of passengers. vTS世界播

首席执行官埃德·巴斯蒂安(Ed Bastian)在谈到乘客时说,速度很慢,但很稳定--他们一周又一周地回来了。vTS世界播

Bastian said Delta plans to stop blocking middle seats in the first half of next year. vTS世界播


That would reverse a policy that Delta has used to distinguish itself during the pandemic from its closest peers, American Airlines and United Airlines, who do not block seats. vTS世界播

这将扭转达美航空在大流行期间用来将自己与最亲密的同行美国航空(American Airlines)和联合航空(United Airlines)区分开来的一项政策,这两家航空公司不会阻塞座位。vTS世界播

The number of people screened at US airports is down 65 per cent this month, compared with last October, but that's better than the 68 per cent decline in September, the 71 per cent drop in August and the 96 per cent plunge in mid-April. vTS世界播



Delta Air Lines planes are seen above at John F. Kennedy International Airport on March 21. The airline said that it lost $5.4billion during the third quarter of 2020 vTS世界播


Most of the people flying now are low-fare leisure travelers. vTS世界播


Delta depends heavily on business travel, which is still down 85 per cent from a year ago, Bastian said. vTS世界播


Even there, however, the CEO was upbeat, saying that 90 per cent of Delta's corporate customers have put some employees back in the air - just not many of them. vTS世界播


Bastian said a widely available vaccine, rapid COVID testing and the lifting of traveler quarantines are needed before corporate travel recovers. vTS世界播


Delta's loss compared with a year-ago profit of $1.5billion and nearly matched the loss of $5.7billion in the second quarter, when the pandemic brought air travel to a near standstill. vTS世界播


Since then, Delta has concentrated on hoarding cash - it raised $9billion by mortgaging its frequent-flyer program - and cutting costs. vTS世界播


Delta reduced its cash-burn rate to $18.4million a day in September from $26.1million in July and August, and Bastian predicted it could reach break-even cash flow by spring. vTS世界播


Investors are watching cash as a gauge for how long carriers can last in the industry's current depressed state. vTS世界播


Cowen airline analyst Helane Becker said she was not surprised that Delta said it would take more time than expected to hit break-even. vTS世界播

考恩航空(Cowen Airlines)分析师海伦·贝克尔(Helane Becker)表示,达美航空表示,需要比预期更长的时间才能实现收支平衡,她对此并不感到惊讶。vTS世界播

'Air travel demand has been improving, but the pace of the recovery has been slower than what the market wants to hear.' vTS世界播


Delta shares were down more than 2 per cent in afternoon trading. vTS世界播


The slower cash burn comes with a human price: It is possible in part because 18,000 employees took buyouts or early retirement and thousands more have taken unpaid leave. vTS世界播


Executives said 40,000 took leave during the summer; 12,000 were on leave in September. vTS世界播


Delta had 91,000 employees in January. vTS世界播


The large number of voluntary departures has let Delta avoid layoffs, in sharp contrast to American, which furloughed 19,000 employees this month, and United, which cut 13,000. vTS世界播



Shares of Delta fell by more than two per cent during trading on Wall Street on Tuesday vTS世界播


Delta could still furlough 1,700 pilots next month unless the union agrees to contract concessions or Congress and the White House provide more aid for the airline industry. vTS世界播


'We haven't needed to furlough - our employees took care of that themselves,' Bastian said in an interview. vTS世界播


'They didn't rely on the government relief to take of saving their jobs. They saved each other's jobs.' vTS世界播


Back in April, airlines reached agreements with the Treasury Department for up to $25billion in payroll relief, with Delta getting $5.4billion. vTS世界播


The money - and an accompanying ban on layoffs - expired this month. vTS世界播


The industry and its unions are seeking another $25billion. vTS世界播


The Air Line Pilots Association said it negotiated a deal this spring that led 1,800 pilots to retire early, and it was committing to negotiating a deal now to avoid furloughs. vTS世界播

航空公司飞行员协会(Air Line Pilots Association)表示,它在今年春天谈判了一项协议,导致1800名飞行员提前退休,并承诺现在就谈判一项协议,以避免休假。vTS世界播

Most of Delta's third-quarter loss stemmed from the cost of paying people to quit and writing down the value of assets including planes destined for resale or the scrap yard. vTS世界播


The rest was linked to a 76 per cent plunge in revenue. vTS世界播


The company reported a pretax loss of $2.6billion, excluding charges for employee severance and asset write-downs and a gain from the federal payroll grant. vTS世界播


The adjusted loss of $3.30 per share compared with an average forecast of $3 per share among 18 analysts surveyed by FactSet. vTS世界播


Revenue plummeted to $3.06billion, less than the $3.13billion estimated by analysts. vTS世界播


Passenger revenue, which excludes cargo and the Delta-owned refinery, dropped 83 per cent from a year earlier - an improvement from the 94 per cent plunge in the second quarter. vTS世界播


Delta predicted passenger revenue will continue to rise. vTS世界播


'We are seeing good booking momentum into Thanksgiving and Christmas and really even into the off-peak periods in December and into early January,' said airline President Glen Hauenstein. He did not give figures. vTS世界播

航空公司总裁格伦·豪恩斯坦(Glen Hauenstein)说,我们看到感恩节和圣诞节的预订势头良好,甚至在12月和1月初的非高峰时期也是如此。他没有给出具体数字。vTS世界播

Delta is the first US airline to release third-quarter numbers. vTS世界播


United Airlines is scheduled to release its results Wednesday, and analysts expect another large loss. vTS世界播


© 2016 世界播 www.shijiebobao.com 中国互联网举报中心 京ICP证140141号 鄂ICP备18018000号-1