Delta Q3 2020 Earnings Report
Key Takeaways
Delta Air Lines reported a GAAP pre-tax loss of $6.9 billion and a loss per share of $8.47 on total revenue of $3.1 billion for the September quarter 2020. The adjusted pre-tax loss was $2.6 billion, with an adjusted loss per share of $3.30 on adjusted revenue of $2.6 billion. The company ended the quarter with $21.6 billion in liquidity and is focused on cost management and restoring customer confidence.
Adjusted operating revenue decreased by 79% compared to the September 2019 quarter.
Adjusted operating expenses decreased by 52% versus the prior year quarter.
Daily cash burn improved to an average of $18 million for the month of September.
The company raised $9.0 billion through a debt offering secured by its SkyMiles loyalty program.
Delta
Delta
Forward Guidance
No specific forward guidance was provided in the release.