Delta stopped burning through cash in March
CNN
Since the pandemic hit the US airline industry last March, major carriers have been burning through millions of dollars a day. For Delta Air Lines, at least, that ended last month.
The company reported it lost $2.3 billion in the first three months of the year, excluding special items. And although the airline still reported an average daily cash burn rate of $11 million a day throughout the quarter, it said that was due to the funds it spent through the first two months of the period. In March, Delta reported it was generating positive cash of about $4 million a day. Cash generation and cash burn are not the same as profits and losses. There are many other expenses, including depreciation on aging equipment, such as planes, that aren't factored into the cash burn rate.
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