- Delta Air Lines will cut flights to continental Europe for the next 30 days, CEO Ed Bastian said in a note to employees on Friday.
- The airline will cut flights overall by 40% over the next few months, which Bastian said was the largest reduction in the company's history, including 9/11.
- Delta will continue flights to London.
- The airline is reducing capital expenditures by at least $2 billion for the year, delaying modifications to aircraft and other initiatives, as the company seeks to save cash.
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Delta Air Lines is cutting flights to continental Europe for 30 days as the company grapples with the fallout from the coronavirus pandemic.
CEO Ed Bastian said in a note to employees on Friday, shared with Business Insider, that the airline will cut flights overall by 40% over the next few months. Bastian noted that this is the largest cut in the airline's history, including after the 9/11 attacks.
"Demand for travel is declining at an accelerated pace daily, driving an unprecedented revenue impact," Bastian said in the note. "Cancellations are rising dramatically with net bookings now negative for travel over the next four weeks. To put that in perspective, we're currently seeing more cancellations than new bookings over the next month."
Delta will continue service to London throughout the cuts, the note said, but the cut to European flights could extend further than 30 days.
The airline will also ground up to 300 aircraft as demand for flights drops due to the coronavirus pandemic.
In an effort to preserve cash, the company will delay improvements like modifications to aircraft as it reduces capital expenditures throughout 2020 by "at least $2 billion for the year," Bastian said.
Delta is also placing a freeze on new hires and will offer voluntary, "short-term unpaid" leave.