Delta Air Lines CEO Ed Bastian on possible company licenses, earnings, blocking of intermediate seats and the importance of CARES Act coronavirus relief.
Delta Air Lines told pilots on Friday that it would avoid permits if they agreed to reduce the guaranteed minimum wage, according to a memo seen by Reuters.
DELTA AIR LINES HAS ‘REAL SHOT’ TO AVOID DISMISSALS, FURLOUGHS: CEO
Delta is still struggling due to a dramatic decline in travel demand caused by the coronavirus pandemic. This week it reported that second quarter revenue fell 91% and an adjusted pre-tax loss of $ 3.9 billion.
| Heart | Security | Latest | Change | Change% |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 27.05 | -0.21 | -0.77% |
The airline is working to further reduce costs and more than 17,000 employees are taking voluntary departure packages, including more than 1,700 of 7,900 pilots before the Sunday deadline for pilots to accept voluntary packages.
DELTA TAKES LOSS OF $ 7B WHILE CORONAVIRUS HAS FLIGHTS
Delta Senior Vice President of Flight Operations John Laughter said in a memorandum that the company is “committed to preventing involuntary permits for as many, if not all, people of Delta.”
Laughter said the company proposed reducing the pilot’s minimum guaranteed payment by 15% for 12 months in exchange for a one-year license-free guarantee.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
“Our focus is to spread the work of a smaller airline among all of our pilots to preserve all jobs, that would be unheard of in our history,” Laughter wrote.
Laughter said Delta pilots are currently paid for more hours than they are actually flying. In June, the pilots flew approximately 10 real hours and will be 15.5 in July.
GET FOX BUSINESS ON THE MOVE BY CLICKING HERE
