Delta air lines board of directors authorize plan to retire boeing 777 aircraft

Delta air lines inc - board of directors on may 13, 2020 authorized a plan to retire boeing 777 aircraft.delta air lines inc - expect aggregate impairment charges to range from $1.4 billion to $1.7 billion, before tax in june quarter.delta air lines - remove boeing 777 aircraft from service by end of 2020.delta air lines inc - evaluated boeing 777, md-90 aircraft for impairment, concluded that carrying value of aircraft was no longer recoverable.delta air lines inc - immaterial amount associated with impairment charges is expected to result in future cash expenditures..delta air lines - "plan to continue to consider further opportunities for early aircraft retirements".delta air lines inc - we've already accelerated retirement plan for md-88s and md-90s, and parked more than 650 jets total.delta air lines inc - principal financial goal for 2020 is to reduce cash burn to zero by end of year.delta air lines - a330s & a350-900s, which are more fuel-efficient and cost-effective, will perform long-haul flying as international demand returns.delta air lines inc - delta has refunded more than $1.2 billion to our customers since pandemic began, including $160 million so far this month.delta air lines inc - cash burn goal will mean, for next 2 to 3years, smaller network, fleet & operation in response to reduced customer demand.delta air lines inc - a330s and a350-900s will perform long-haul flying as international demand returns..
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