Minnesota’s Biggest Airline Lost a Ton of Money in 2nd Quarter
The ongoing coronavirus outbreak has wreaked havoc on many parts of Minnesota's economy, but the amount of money Minnesota's biggest airline lost during the second quarter of 2020 was staggering.
The COVID-19 pandemic of 2020 is having catastrophic effects not just here in Minnesota, of course, but around the world. Just about every aspect of our lives has been affected, right? And that's certainly true with our economy. Finances at Minnesota restaurants and bars and even the world-renowned Mayo Clinic here in Rochester have all taken a hit this year.
But the amount of money that Minnesota's biggest airline lost during the second quarter of this year really is tough to comprehend. Delta Airlines, which merged with Minnesota's own Northwest Airlines back in 2010, is the largest carrier in Minnesota. And according to financial reports released about Delta's earnings in the second fiscal quarter (which is April, May and June) show there weren't really any earnings at all. BringMeTheNews says that Delta lost $5.7 billion in the second quarter.
Yes, that billions-- with a 'B'. $5.7 billion. In just the second quarter. Wow.
That is a TON of money. How does ANY business recover from that kind of loss?!? And the losses are still ongoing, too. In fact, Delta said right now, they're losing $27 million A DAY. Can you imagine?!? And that's an improvement from the $43 million a day they'd been losing earlier this year!
To put it in perspective, Delta said business is down a whopping 93% from the second quarter of 2019. Yikes. Here's hoping things improve-- and soon. (Although, I'm not in a hurry to jump a plane anytime soon, which I guess sums up the rough situation Delta is in right now...)