Delta Air Lines submits grant application as it burns cash

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.

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