Delta Airlines: another big loss in Q4

(CercleFinance.com) - Delta Airlines has posted an adjusted loss per share of 2.
53 dollars for the fourth quarter of 2020, slightly above what analysts feared, which continues to reflect the devastating impact that the health crisis is having on the airline industry.

The Atlanta-based airline recorded a 69% dive in adjusted revenues to 3.5 billion dollars, although the trend was nonetheless 10 points better than the decline seen in the previous quarter.

Management said that it has reduced its average cash burn to 12 million dollars per day, representing a reduction of nearly 90% since the first days of the pandemic in March. In addition, it is moving towards cash break-even in the spring.

Investors seem to be focusing on the plus points - the share is up over 2.5% in pre-market trading on Thursday.



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