Delta makes deep flight cuts as coronavirus hurts demand, freezes hiring, pulls financial outlook

[turbinetree]

PUBLISHED TUE, MAR 10 20208:07 AM EDT UPDATED AN HOUR AGO
Leslie Josephs

Delta Air Lines said Tuesday that it will make deep cuts throughout its network to reduce costs as the coronavirus outbreak drives down demand for air travel.

The carrier’s announcement follows similar measures taken by American, United and JetBlue.

The Atlanta-based carrier said it is reducing its international flying by as much as 25% and domestic capacity between 10% and 15%, among some of the deepest cuts announced in the U.S. so far.

With so much uncertainty, the airline suspended its financial outlook for this year.

It will halt its stock repurchase program and delay in $500 million in capital expenditures and $500 million in voluntary pension funding. Hiring is also being frozen throughout the company and it is offering voluntary, unpaid leave. Delta also may park aircraft and look to retire some planes earlier than expected.

https://www.cnbc.com/2020/03/10/delta-makes-deep-flight-cuts-as-coronavirus-hurts-demand-ceo-expects-it-to-get-worse.html

Isn't that sweet Delta is going to halt its stock buy program after they got a part of the 1.5 trillion tax scam break..............while the workers didn't get a tax break for mortgage payments and property taxes.........................

[malaise]

1. BA cancelled all flights to Italy

earlier today

[CurtEastPoint]

2. Delta DID pay their employees TWO MONTHS' SALARY as a bonus last month.

[turbinetree]

3. I hope they put that away for future layoffs.....................because they did back

the red hat, who gutted the agency to protect us from this stuff...............

[mn9driver]

4. The pilots negotiated profit sharing as part of their pay cuts

And pension losses during the bankruptcy era. Delta extended it to all the employees in order to keep pro union ideas from spreading to the other labor groups on the property. Profit sharing didn’t pay a dime for many years.

Delta didn’t give it to the pilots—and by extension the other employees—we paid for it with our lost pensions and our pay over the last 15 years. I would trade every bit of it to have my pension back.

I guarantee there will be no profit sharing checks next year.

[Wellstone ruled]

5. Thanks for the post.

Have family working the Terminal or as you call it the Property . Yes you Folks as well as the AP's had to eat crap . When Delta made their move on NWA,one just knew your Contract would be a pie in the sky deal and just maybe you would someday,after everyone was broke and distatute some one might get a few bucks..

As a Metro Teamster,watched Delta systematically divide and destroy the Unions on the Property.

One of my family members was one of the TSA Union Organizers and had to deal with Delta. It was not pretty and in fact they pretty much made his life a living hell.

As you say,there will not be bonus's from here on out for some time.

Suspended buy backs,yah right.