Delta posts $5.4 billion 3Q loss as pandemic hammers travel

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(AP) – Delta Air Lines is the first carrier to report financial results for the third quarter, and the numbers are grim.

Delta said Tuesday that it lost $5.4 billion as travel remain depressed over the normally peak vacation season because of the pandemic.

Most of Atlanta-based Delta’s loss came from charges covering severance for people who agreed to give up their jobs, and for writing down the value of assets like planes that will be retired.

Revenue was down 76% from the same period last year.

The drop in passenger revenue wasn’t as sharp as in the second quarter, however, and CEO Ed Bastian says passengers are slowly coming back. 

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