Report: Delta Issues Layoff Warnings to Pilots

Delta Air Lines (NYSE: DAL) has issued notices to 2,558 pilots warning of potential layoffs, Bloomberg reported on Thursday, a worrisome sign of what to expect from airlines this fall if passenger traffic does not return and the industry is forced to dramatically shrink its operations. Delta had hinted that it would soon send out furlough notices to pilots last week after it reached an agreement with its pilots' union on an early-retirement package. Airlines have been hit particularly hard by the COVID-19 pandemic; Delta has already warned that its second-quarter revenue will be down by as much as 90% year over year.