March 10, 2020 / 12:32 PM / 22 days ago

BRIEF-Delta Air Lines Says Covid-19 Is Materially Impacting Revenue As Bookings Decline And Ticket Cancellations Accelerate

March 10 (Reuters) - Delta Air Lines Inc:

* DELTA AIR LINES - REDUCING SYSTEM CAPACITY BY 15 POINTS VERSUS PLAN, WITH INTERNATIONAL CAPACITY REDUCED BY 20-25%, DOMESTIC CAPACITY REDUCED BY 10-15%

* DELTA AIR LINES INC SAYS COVID-19 IS MATERIALLY IMPACTING REVENUE AS BOOKINGS DECLINE AND TICKET CANCELLATIONS ACCELERATE - PRESENTATION

* DELTA AIR LINES - UNDERTAKING COST REDUCTION INITIATIVES, INCLUDING INSTITUTING COMPANY-WIDE HIRING FREEZE AND OFFERING VOLUNTARY LEAVE OPTIONS

* DELTA AIR LINES - UNDERTAKING COST REDUCTION INITIATIVES, INCLUDING PARKING AIRCRAFT, AND EVALUATING EARLY RETIREMENTS OF OLDER AIRCRAFT

* DELTA AIR LINES - WITHDRAWING MARCH QUARTER AND FY FINANCIAL OUTLOOK; CURRENTLY EXPECT MARCH QUARTER UNIT REVENUE TO BE DOWN MID- TO HIGH-SINGLE DIGITS

* DELTA AIR LINES - MADE CASH FLOW DECISION OF DEFERRING $500 MILLION IN CAPITAL EXPENDITURES

* DELTA AIR LINES - MADE CASH FLOW DECISION OF DELAYING $500 MILLION OF VOLUNTARY PENSION FUNDING AND SUSPENDING SHARE REPURCHASES

* DELTA AIR LINES - IDENTIFIED CAPACITY-RELATED & INCREMENTAL COST REDUCTIONS OF $1.8 BILLION IN 2020

* DELTA AIR LINES - EXPECTING AT LEAST $5 BILLION LIQUIDITY AT MARCH QUARTER END Source text: (bit.ly/38IiKeB) Further company coverage:

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