Airline earnings season kicked off with a bang, not a whimper, Tuesday morning — but unfortunately, not the good kind of “bang.” Industry leader Delta Air Lines (DAL) reported exploding losses of $3.30-per-share loss (analysts were only expecting $3, even), despite sales falling just below consensus estimates at $3.1 billion.Nor are things improving rapidly. Q4 revenue projections remain down as much as 70% from a year ago.At last report, Delta was burning through $24 million in cash per day. That’s the bad news. The “good” news is that it’s burning through only $24 million per day — which works out …read more
Source:: Yahoo Finance
