Left Menu
Development News Edition

Delta Air Lines submits grant application as it burns cash

Reuters | Washington DC | Updated: 04-04-2020 02:15 IST | Created: 04-04-2020 02:13 IST
Delta Air Lines submits grant application as it burns cash
Representative Image Image Credit: Wikimedia

Delta Air Lines Inc said on Friday it has submitted an application to the U.S. Treasury seeking payroll grant assistance as it continues to burn cash and massively cut flights during the coronavirus pandemic.

Delta Chief Executive Ed Bastian told employees in a memo on Friday that the airline expected to see second-quarter revenue fall 90% as it is burning more than $60 million a day even as 30,000 employees have agreed to take unpaid leaves.


TRENDING

OPINION / BLOG / INTERVIEW

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Dissecting how COVID-19 is catalyzing the trajectory of New World Order

The ensuing pandemic of COVID-19 has hit the globalization in two ways firstly, shrinking the importance of globalization as an economic force by curtailing mobility through worldwide lockdowns, and secondly, rejuvenating the idea of indig...

Domestic seafood trade in focus as COVID-19 changes market dynamics

As predicted earlier in a report titled Seafood industry post-COVID 19 An overhaul to trigger the growth of small fisheries, one of the changes going ahead would be increased focus on domestic seafood trade, driven by falling exports and su...

Migration post-COVID 19: Taking cues from the past to rebuild economies

Migrants are an irreplaceable part of even the essential workforce of developed countries and are on the frontline in the fight against the crisis, making an immeasurable contribution to saving the lives of natives with voting rights....

Videos

Latest News

Japanese face "new normal" after coronavirus emergency lifted

A day after Japan ended its state of emergency, Tokyo residents took to the streets with a mixture of relief and trepidation as they prepared for a new normal of living with the novel coronavirus. Prime Minister Shinzo Abe lifted the state ...

Swedish economy on track for 7% contraction this year - Fin Min

Swedens economy is on track to shrink 7 this year, in line with the governments forecast from its spring budget, Finance Minister Magdalena Andersson said on Tuesday. Our best forecast today is negative GDP growth of 7 this year, Andersson ...

Costa Rica latest country to legalise same-sex marriage

Costa Rica is expected to become the latest country to legalise same-sex marriage early Tuesday when a ruling from its supreme court goes into effect ending the countrys ban. Couples scheduled ceremonies mostly private due to the COVID-19 ...

Congress weighs choice: 'Go big' on virus aid or hit 'pause'

Congress is at a crossroads in the coronavirus crisis, wrestling over whether to go big, as House Speaker Nancy Pelosi wants for the next relief bill, or hit pause, as Senate Majority Leader Mitch McConnell insists. Its a defining moment fo...

Give Feedback