Delta Air Lines says coronavirus to cut Q2 revenue by 80%

[NEW YORK] Delta Air Lines on Friday warned that plunging travel amid the coronavirus outbreak cut earnings by US$10 billion in the second quarter, an 80 per cent drop from a year ago.

"We're now projecting our June quarter revenues will be down by US$10 billion compared to a year ago - an 80 per cent reduction," the US carrier's chief executive Ed Bastian said in a note to employees.

The hotel and travel industry have borne the initial brunt of the impact of the drastic shutdowns caused by the global virus outbreak, but worse may be ahead Bastian said, warning that "recovery will take an extended period once the virus is contained."

AFP