
Delta Air Lines expects revenue over the next three months to be down 90% with no end of the industry's troubles in sight.
"Even as Delta is burning more than $60 million in cash every day, we know we still haven't seen the bottom," CEO Ed Bastian warned employees in a memo on Friday.
He said April's schedule will be "at least 80% smaller than originally planned, with 115,000 flights canceled."
As an example of the drop in traffic, Bastian said that on March 28, Delta carried only 38,000 customers. Normal late-March Saturday traffic is 600,000.
"I wish I could predict this would end soon, but the reality is we simply don't know how long it will take before the virus is contained and customers are ready to fly again," Bastian said.
He confirmed that on Friday, Delta filed for its share of $25 billion in federal grants allocated to the airline industry and approved by Congress last week.