EconomyEditor's PickNewsDelta expects jet retirement charges of up to $2.5 billion in third-quarter

1 year ago124 min
imageStock Markets1 hour ago (Sep 25, 2020 06:15PM ET)

(C) Reuters. FILE PHOTO: Delta planes are seen at the platform after the Federal Aviation Administration (FAA) temporarily halted flights arriving at New York City airports due to coronavirus disease (COVID-19) in New York

(Reuters) – Delta Air Lines (N:DAL) said on Friday it expects to record an up to $2.5 billion charge in the current quarter related to retirements of aircraft.

The Atlanata-based airline reiterated that it expects charges of up to $3.3 billion during the third quarter, linked to its voluntary retirement and separation programs.

Both the charges are before tax, the company said.

The airline said it is retiring its Boeing (NYSE:BA) 717-200 aircraft and the remainder of its 767-300ER aircraft from the fleet by December 2025. It is also retiring its CRJ-200 aircraft by December 2023, earlier than previously planned.

Delta expects jet retirement charges of up to $2.5 billion in third-quarter

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