We have a better sense of just how drastic the sudden collapse in travel demand has been for Atlanta-based Delta Air Lines.
In a letter to employees Wednesday, Delta CEO Edward H. Bastian painted a grim picture.
Over the next three months, Delta will slash $4 billion in operational spending. Pay cuts among management range from 25% to 100%.
And executives are asking employees to take voluntary unpaid leave.
Half of its planes are parked. And frequent flyer lounges are closed. Soon, many airport gates will close, too.
To get a scope of how bad things are going, WABE’s host of “All Things Considered” Jim Burress reached out to travel analyst Henry Harteveldt via Skype.