Delta Announces Financial Results

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Ed Bastian
Delta Airlines’ CEO, Ed Bastian

Delta Airlines has released its financial results for the quarter that ended in December and for full year 2020.
The airline provided its outlook for the quarter ending in 2021.

Speaking on the results, Ed Bastian, Delta’s chief executive officer, said: “Our December quarter results capped the toughest year in Delta’s history. “While our challenges continue in 2021, I am optimistic this will be a year of recovery and a turning point that results in an even stronger Delta returning to revenue growth, profitability and free cash generation.”

The results showed adjusted pre-tax loss of $2.1 billion, excluding nearly $1 billion of items directly related to the impact of, and the airline’s response to COVID-19, including charges associated with employee pay and benefit changes, which were offset by the benefit of the CARES Act payroll support program (PSP) grant recognized in the quarter.