Delta cuts its most flights ever and seeks coronavirus aid from the U.S.
Delta Air Lines Inc. is cutting flights further, slashing spending and seeking government aid to contend with the coronavirus outbreak — and Chief Executive Ed Bastian warned employees that the situation is likely to get worse.
“The speed of the demand falloff is unlike anything we’ve seen,” said the CEO, who will give up his salary for the next six months. “We are moving quickly to preserve cash and protect our company. And with revenues dropping, we must be focused on taking costs out of our business.” Sen. Ted Cruz, the Texas Republican who chairs the Senate Commerce Committee’s aviation panel, is working with airlines, Trump administration officials and other lawmakers on economic relief measures, according to his office.
“I’m optimistic we will receive their support,” Bastian said. “That said, the form and value is unpredictable, and we can’t put our company’s future at risk waiting on aid from our government.”As part of the cost cuts, Delta will defer new aircraft deliveries and pare investment by at least $2 billion this year. The Atlanta-based company is also adopting a hiring freeze and offering employees voluntary unpaid leave.
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