Post by andypspotter on Mar 21, 2020 20:37:00 GMT
Delta Air Lines is parking more than 600 jets – at least half of its fleet – cutting more flights and implementing a round of paycuts for officers, managers, and directors while members of the board forgo compensation.
Delta Air Lines said on Wednesday it was parking more than 600 aircraft, cutting corporate pay by as much as 50%, and scaling back its flying by more than 70% until demand begins to recover from the coronavirus epidemic hit.
In a memo to employees, Delta Chief Executive Ed Bastian said the company would continue taking “all necessary self-help measures,” with cash preservation the top priority, even as it remains optimistic of industry support from the White House and Congress.
Delta Air Lines said on Wednesday it was parking more than 600 aircraft, cutting corporate pay by as much as 50%, and scaling back its flying by more than 70% until demand begins to recover from the coronavirus epidemic hit.
In a memo to employees, Delta Chief Executive Ed Bastian said the company would continue taking “all necessary self-help measures,” with cash preservation the top priority, even as it remains optimistic of industry support from the White House and Congress.