Delta Air Lines has reported an adjusted pre-tax loss of $2.9 billion for the March quarter 2021 on adjusted operating revenue of $3.6 billion – a decline of 65% on 55% lower sellable capacity compared to the march 2019 quarter. The pre-tax loss figure excludes $1.2 billion of benefit related to the first payroll support program extension (PSP2), which is partially offset among other items by the debt extinguishment charges incurred when prepaying the airline’s $1.5 billion slots, gates and routes term loan. Total operating expense, which includes the $1.2 billion benefit related to PSP2, decreased $3.9 billion over the

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