In a memo, Delta Air Lines CEO Ed Bastian said stated, he continues to expect the company to achieve a positive cash flow by the coming spring.
In a note to employees, Bastian said Delta Air Lines will likely “experience two distinct phases during the next 12 months” with the first phase being similar to 2020.
“The second phase will begin only when we reach a turning point with widely available vaccinations that spur a significant return to travel, particularly business travel.”
In October, Bastian had told investors that Delta plans to start trimming down its debt in 2021 once it has achieved positive cash flow.
Revenues of the airlines, which is keeping the middle seat empty until March 30, 2021, fell by 76% to $3.1 billion during the third quarter. “As difficult as 2020 was, in many ways I expect the next 12 months to be even more challenging,” said Bastian.