Delta warns of 80% revenue drop as US carriers fear doomDelta Air Lines has taken out a $2.6 billion loan and put some of its airlines up as collateral. NEW YORK: Delta Air Lines on Friday warned the coronavirus pandemic will cut its second quarter earnings by 80% compared to 2019, and ratings agency S&P said other US carriers faced similar fates. Amid the spreading economic carnage, Bastian said there are now 13,000 employees who have taken voluntary unpaid leave, and "we could use more." In a regulatory filing, Delta also announced it had taken out a $2.6 billion loan that was secured by "certain aircraft." S&P cut the outlook for United Airlines to negative.

Source: Bangkok Post March 20, 2020 21:45 UTC