Delta retires 777s with cash burn at $50M a day

May 14, 2020 9:12 AM ETDelta Air Lines, Inc. (DAL), BABA, DALBy: Clark Schultz, SA News Editor50 Comments
  • Delta Air Lines (NYSE:DAL) says its board authorized a plan to retire the company's Boeing (NYSE:BA) 777 aircraft and remove them from service by the end of 2020.
  • Delta expects to record non-cash impairment charges associated with the aircraft of around $1.4B to $1.7B before tax.
  • "We plan to continue to consider further opportunities for early aircraft retirements in an effort to modernize and simplify our fleet in the future," updates the company.
  • On the financial front, Delta says it's burning through $50M a day.
  • Shares of Delta are down 3.25% premarket to $18.78.
  • SEC Form 8-K

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