Delta Warns of Wider Loss, Job Cuts
Delta Air Lines Inc. will eliminate 1,500 flight attendant jobs and have a bigger loss than forecast this quarter because the carrier overestimated a rebound in travel demand.
The carrier will cut 9.4% of its attendant positions, adding to 13,000 other jobs trimmed after last year’s terrorist attacks.
The loss will widen to $350 million from the year-earlier $259 million.
Fewer passengers boarded planes this month than the carrier forecast, keeping revenue unchanged from the year-earlier quarter, Delta said.
Delta’s shares fell $2.81, or 24%, to $8.69 on the New York Stock Exchange.
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