Delta Air Lines posts first-quarter net loss of US$534 million

©Delta Air Lines

Delta Air Lines has reported financial results for the March quarter of 2020, posting a net loss of US$534 million. Total revenue of US$8.6 billion, was down 18% versus the prior year, with total unit revenue down 13%. Total expense decreased US$450 million driven by lower fuel usage, partially offset by higher revenue- and capacity-related expenses, with non-fuel unit cost (CASM-Ex) up 9% compared to the prior year.

Fuel expense decreased 19% relative to March quarter 2019. Delta’s fuel price for the March quarter of US$1.81 per gallon included a US$29 million benefit from the refinery.

At the end of the March quarter, the company had US$6.0 billion in unrestricted liquidity

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