Delta Air Lines, Inc. (NYSE:DAL) announced its second quarter earnings results on Tuesday 14th July 2020 before market open.
The air transportation for passengers and cargo provider, reported $ 9.01 loss per share for the quarter.
On adjusted basis, Delta Air Lines, Inc. reported loss for the quarter of $ 4.43 per share, missed the consensus estimate of $ 4.12 loss per share by $ 0.31 or 7.52 percent.
The firm had revenue of $ 1,468.00 million for the quarter, compared to the consensus estimate of $ 1403.09 million. The revenues topped analysts estimates by $ 64.91 million or 4.63 percent.
Earlier, for the second quarter the company expected revenue of $ 1,250 million.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Ed Bastian, chief executive officer, said, Given the combined effects of the pandemic and associated financial impact on the global economy, we continue to believe that it will be more than two years before we see a sustainable recovery. In this difficult environment, the strengths that are core to Deltas business – our people, our brand, our network and our operational reliability – guide every decision we make, differentiating Delta with our customers and positioning us to succeed when demand returns.
The demand for air travel declined significantly in the June quarter as a result of COVID-19, with enplaned passengers down 93 percent year over year. Non-ticket revenue declined 65 percent, as Cargo, MRO and Loyalty revenues declined at a lower rate than ticket revenue.
