Delta parking 600 jets, cutting more executive pay and flights as revenue tanks

Delta parking 600 jets, cutting more executive pay and flights as revenue tanks

Delta Air Lines said on Wednesday it was parking more than 600 jets - at least half of its fleet - cutting more flights and implementing a round of paycuts for officers, managers, and directors while members of the board forgo compensation.

An airport worker guides a Delta Air Lines Airus A319 plane on the tarmac at LAX in Los Angeles
FILE PHOTO: An airport worker guides a Delta Air Lines Airbus A319-100 plane on the tarmac at LAX in Los Angeles, California, U.S., January 6, 2020. REUTERS/Lucy Nicholson

CHICAGO: Delta Air Lines said on Wednesday it was parking more than 600 jets - at least half of its fleet - cutting more flights and implementing a round of paycuts for officers, managers, and directors while members of the board forgo compensation.

The airline said revenue is expected to decline by US$2 billion in March from a year earlier, as demand drops amid the spreading coronavirus.

(Reporting by Tracy Rucinski, Editing by Franklin Paul)

Source: Reuters

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