Delta Air Lines CEO Ed Bastian, in a stark contrast to most of his rivals, says the airline might not have to lay off any workers despite the crushing coronavirus pandemic.
Bastian said more than 17,000 employees, or about 20% of Delta's 90,000 employees, have accepted early retirement offers and thousands more have agreed to voluntary unpaid leave in the fall as the airline shrinks to cope with decimated travel demand.
Bastian's optimism about layoffs comes as Delta reported what Bastian called the worst financial results in the airline's history as passenger counts plunged 93%. The airline brought in just $1.5 billion in revenue in the April-June quarter, versus $12.5 billion in the same period a year ago. It posted a net loss of $5.7 billion, compared with a profit of $1.4 billion a year ago. It is the first major airline to report results for the quarter.
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