„The speed of the demand fall-off is unlike anything we’ve seen,“ Bastian wrote, noting that bookings are net negative— meaning canceled bookings are more than new bookings — at Delta. „We’re currently seeing more cancellations than new bookings over the next month,“ added.
On Thursday, an administration official told POLITICO that „Congress really will have little choice to act or face a significant extinction moment for the airline industry.“
Trump’s economic aides have been studying how the President George W. Bush administration propped up the airline industry after 9/11.
Bastian warned in his memo, though, that the „form and value“ of help from the government is unpredictable. „We can’t put our company’s future at risk waiting on aid from our government.“
Delta is also eliminating flights to continental Europe for the next 30 days. Bastian also said he would forgo his salary for the next six months.
Source: politico.com
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