The nose of a Delta Air Lines Boeing 777-200ER dedicated to David C. Garrett Jr, former CEO of the airline is seen at the Narita airport.
Fabrizio Gandolfo | SOPA Images | Getty Images
Delta Air Lines said Thursday it aims to eliminate its daily cash burn by the end of the year and will retire its fleet of Boeing 777s, a sign it doesn’t expect a quick return of long-haul international travel as coronavirus continues to batter demand.
The Atlanta-based airline said it has halved its daily cash burn to $50 million a day, on schedule, as it cut flights and reduced other expenses amid the pandemic.
“Our principal financial goal for 2020 is to reduce our cash burn to zero by the end of the year, which will mean, for the next two to three years, a smaller network, fleet and operation in response to substantially reduced customer demand,” CEO Ed Bastian said in a staff memo.
Demand for international flights has plunged because of the disease, travel restrictions and shelter-in-place orders,…