Delta Plots “Year of Recovery” After $15.6 Billion Loss in 2020

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Delta Air Lines (NYSE: DAL) lost $2.1 billion in the fourth quarter and $15.6 billion for the year as the pandemic took its toll on the airline sector, but the company said it is optimistic the worst is behind it heading into 2021.

Early Thursday, the airline reported a fourth-quarter adjusted loss of $2.53 per share on revenue of $3.5 billion, falling just short of analyst consensus estimates for a $2.51 loss per share on revenue of $3.6 billion. Delta bled through about $12 million per day in December, a 90% reduction from the airline’s burn rate back in late March at the beginning of the pandemic.

Image source: Delta Air Lines.

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