DAL stock

15 Jul: Delta Air Lines Q2 earnings showed the severity of the coronavirus impact

Delta Air Lines, Inc. (DAL) stock news Shares of Delta Air Lines, Inc. (DAL) closed at 26.11-0.71 (-2.65%) on July 14, 2020. “Delta Air Lines Inc. (DAL) reported its second consecutive quarterly loss as the U.S. airline pared back its flight capacity plans for August by 50% with demand stalling again amid a renewed rise in Covid-19 cases. Delta ended the second quarter with an adjusted $2.8 billion net loss, or a $4.43 loss per share, as total adjusted revenue, which excludes refinery sales, plunged 91% to $1.2 billion year-on-year. Looking ahead, the U.S. airline expects overall revenue for the September quarter will be only 20% to 25% of last summer, as demand growth flattened recently with the rise in Covid-19 cases. Meanwhile, business travel, which typically provides 50% of Delta’s revenue, has not yet returned in any meaningful way, the company added. The “decline in revenue over last year,…