Delta Air extends suspension of U.S.-China flights through May 31
Reuters
Published Mar 11, 2020 02:38PM ET
Delta Air extends suspension of U.S.-China flights through May 31
(Reuters) - Delta Air Lines Inc (N:DAL) said on Wednesday it was extending the suspension of all flights between the United States and China from April 30 to May 31 due to the coronavirus outbreak.
It also extended the suspension for some destinations in South Korea and Japan to the same date and said it will reduce planned capacity by 15%.
The airline sector has been hit hard by the rapidly spreading coronavirus, which has forced tourists and businesses to cancel trips, sparking a string of steps by carriers to tackle the impact of the outbreak.
Delta said it has frozen hiring, offered voluntary leave option to staff and was planning retire older aircraft ahead of time to limit the fallout of a drop in net booking by as much as 25% to 30%.
Shares of the company fell as much as 8.2% to $41.73, in line with the broader selloff in the sector on Wednesday. The stock has fallen nearly 30% so far this year.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.