The airlines are still suffering in the fallout of the coronavirus pandemic.
CEO Ed Bastian also said that the rebound from April’s outright plunge in domestic flying had stalled and that Delta will halve the number of extra flights it adds in August to 500.
Even with the 1,000 additional flights this month, that puts it at just 30% of its normal July schedule. Over the July 4 holiday weekend, Delta flew only one-fifth as many passengers as it did a year earlier.
Now, with Delta's earnings out, let's go through them.
The Atlanta-based carrier suffered one of its worst quarters on record, posting a wider-than-expected second-quarter loss amid the coronavirus pandemic and shutdown of most non-essential travel.
Delta posted an adjusted loss of $3.86 billion, or $4.43 a share, vs. income of just under $2 billion, or $2.35 a share, in the year-ago quarter. Analysts polled by FactSet had been expecting a loss of $4.22 a share.
Revenue came in at $1.18 billion, down 91% from a year ago and also below estimates $1.43 billion. Delta had $15.7 billion in liquidity as of the end of June.
Meanwhile, Southwest Airlines CEO Gary Kelly said that the company needs to see a jump in consumer demand or else it will be forced to take new steps to reduce staffing.
And this follows the Delta CEO's comments in a memo to employees about the slow rebound for the airline industry.
Watch the video above for more from Jim Cramer on the airlines.