Delta isn’t enjoying its Friday.
According to the Atlanta Business Chronicle, CEO Ed Bastian said the airline is hemorrhaging $60 million a day and “still (hasn’t) seen the bottom.”
He also told employees that second-quarter year-over-year revenue will plummet by 90%
Last Saturday, the airline’s load factor was reportedly just 6.3% of a typical late March Saturday.
And for the big cherry on the bad news sundae: Warren Buffet’s Berkshire Hathaway dumped almost 13,000,000 shares of DAL stock today. Yes. 13 million shares.
(Disclaimer: neither René nor I own any airline stock.)
And by most accounts, the world hasn’t even hit the coronavirus peak yet. Here’s hoping there will still be a Delta a year from now.
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