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Wow. Delta Predicts 90% Revenue Drop While Buffett Sells Millions of DAL Shares

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Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


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.

— Chris

 

Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


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1 Comment

  1. Barry Graham Reply

    What you are basically saying is that you hope there will be an airline industry in a year’s time. Since Delta is the leader right now, there will most likely be a Delta if commercial travel still exists.

    Of course it is possible this could be the end of commercial air travel and if so, that would be the least of our worries.

    I personally think we will come through all this and the world at the other end will be much better, even though it’s unlikely to be business as usual.

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