Late on Friday, Ed Bastian, the Chief Executive of Delta Air Lines, was quoted saying in a memo to his employees that Delta, one of the major American airlines, was holding forth on to its expectation to achieve a positive stream of cash by the Spring of 2021, pointing towards an utterly rare beacon of hope for an ailing travel and tourism industry amid a pandemic-driven protracted restrictions on international travels.
On top of that, latest remarks from Bastian, Chief Executive of Delta Air Lines, the Atlanta, Georgia-headquartered leading US carrier, comes over the heels of a comment made in October last year, while the Delta CEO had told to the investors that the 91-year-old legacy carrier, would begin to pay out its debts in 2021 after reaching a positive cash flow.
Delta to face off two phases of cash flow in 2021
In tandem, according to the memo revealed on Friday, in a new year note to employees, Bastian was quoted saying that the company would more likely to meet with a couple of distinctive phases in 2021, while the first half of the year would be similar to 2021, but the second half of 2021 would bring off a positive brook in cash flows for the leading American legacy carrier.
Nonetheless, the extent of turnover in particular would depend upon an availability of a pandemic vaccine by the Spring of 2021, added the Delta Chief Executive. Meanwhile, addressing to a seemingly upscaled second half of the year in terms of profitability, Bastian said in the new year note to the employees, “…The company will likely experience two distinct phases during the next 12 months.
The first phase will be similar to 2020. The second phase will begin only when we reach a turning point with widely available vaccinations that spur a significant return to travel, particularly business travel. ”