Shares of the Atlanta carrier at last check were 1.1% higher at $22.11.
Delta said its second-quarter schedule is 85% smaller than it was a year earlier, with reductions of 80% in U.S. domestic capacity and 90% internationally.
Delta said it was resuming some suspended routes in June. Overseas flights added include New York to Amsterdam, New York to Paris and Atlanta to Paris. In addition, there’s Detroit to Shanghai and Seattle to Tokyo.
Delta Chief Financial Officer Paul Jacobson, speaking at the virtually held Wolfe Research conference, said it had seen an uptick in domestic leisure bookings and occasional days of positive sales, net of refunds, according to Bloomberg.
Jacobson also said Delta's cash flow was on track to reach break-even by the end of the year. But he warned that rebuilding demand to the levels seen before the coronavirus outbreak would be tough, Reuters reported.
“I don’t think that when we turn the page into 2021, absent a vaccine or something, there’s going to be much of an appetite to get on an 85%-90% load-factor airplane,” Jacobson said.
Jacobson said that for the foreseeable future he did not expect yields to be significantly better, adding that Delta expects its daily cash burn rate to slow to about $40 million as it exits June.
Also on Tuesday, Southwest Airlines (LUV) - Get Report reported improved demand and load factor in May and sees additional improvement in June. The carrier said it continued to lower its cash-burn rate.