“The 777 played an important role with Delta since 1999, allowing us to open new long-haul markets and grow our international network as we transformed into a global airline.”. A RED VENTURES COMPANY. Delta Air Lines Inc. is retiring its fleet of Boeing Co. 777’s and warning its pilots of massive overstaffing as the carrier grapples with the unprecedented collapse in travel demand caused by the Covid-19 pandemic. Evercore analyst Duane Pfennigwerth told TPG in April that Delta may retire some “oddball” aircraft in its fleet, or models that it has few of with no plans to add more. Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Delta retiring all Boeing 777s It has today been announcedthat Delta will retire all Boeing 777s by the end of 2020, as a result of the COVID-19 pandemic. Delta to retire Boeing 777 fleet by the end of the year. 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases. Delta Dental has affordable dental plans and options to keep you and your family healthy and happy. The Points Guy will not sell your email. That's $750 toward travel when you redeem through Chase Ultimate Rewards®. The airline only recently finished retrofitting the 777s with Delta One suites, as well as its Premium Select premium economy seats. I’ve outlined five reasons, some stated, some conjecture on my part, to explain this unexpected move. The airline’s shares tumbled 67% this year through Wednesday, while the S&P 500 dropped 13%. These include its 8,433-mile nonstop between Atlanta (ATL) and Johannesburg (JNB), and 7,797-mile nonstop between New York John F. Kennedy (JFK) and Mumbai (BOM) that just began in December. I would like to subscribe to The Points Guy newsletters and special email promotions. Bastian said the retirement of its biggest Boeing jets would further Delta’s “principal financial goal” of slashing its daily cash burn to zero by year’s end from the current level of $50 million. Delta was also the only U.S. airline to offer a spacious 3-3-3 economy layout on the planes; American Airlines and United Airlines both configure economy class on their 777s in a tighter 3-4-3 seating layout. Please view our advertising policy page for more information. Retiring a fleet type cuts the expense of training pilots and mechanics and maintaining a separate inventory of parts. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Delta Air Lines (NYSE: DAL) announced Thursday that it plans to permanently retire its 18 twin-aisle Boeing 777s by the end of the year and write off $1.4 billion to $1.7 billion in the second quarter after determining that the airplanes, as well as its remaining MD-90s that are going to a boneyard, have no recoverable value. Delta had parked 677 jets due to COVID-19 as of May 13, according to an update to staff. The airline expects the number of excess pilots to decline to 2,500 to 3,500 in the third quarter of 2021, which is the summer travel season. The Boeing wide-body having edged out the competing Airbus A330 for the order in 1997. Stay on top of industry impacts, flight cancellations, and more. Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. Featured image by Alberto Riva/The Points Guy. Please view our advertising policy page for more information. PHOTO: CARLOS LUGO. Delta expects to book a $1.4 billion-$1.7 billion non-cash impairment for the 18 777s and 27 MD-90s it will also retire. “We would expect to see domestic air travel markets to be opening first and international markets much slower to open,” IATA chief economist Brian Pearce said on May 13. One jet that Delta continues to fly is the Airbus A220, a plane that is both comfortable or passengers and economic for airlines. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered. The 777 decision is not a complete surprise. View our latest valuations here. Delta fell 1.1% to $19.19 at 1:10 p.m. in New York as the broader market rebounded from losses earlier in the day. The Iconic aircraft was so common around major airports around the U.S. and the world will embark on its final revenue flight on Halloween, flying between New York's JFK Airport and LAX in Los Angeles. “Retiring a fleet as iconic as the 777 is not an easy decision,” Bastian told staff. Photographer: Alex Tai/SOPA Images/LightRocket via Getty Images. The 777s will leave Delta by the end of this year. Before it's here, it's on the Bloomberg Terminal. In another cost-cutting effort spurred by the Covid-19 pandemic, the company said the number of employees who have agreed to take voluntary leave has now surpassed 41,000. Delta Air Lines announced Thursday it will retire the long-range Boeing 777 aircraft, resulting in a large write-off and deepening a likely second-quarter loss due to the coronavirus crisis. May 14 (Reuters) - Delta Air Lines said on Thursday it would retire Boeing Co’s wide-body 777 aircraft from its fleet and remove them from service by the end of 2020. © 2021 THE POINTS GUY, LLC. Download the Delta Dental Mobile App today! The wide-body Boeing 777s … The move is the beginning of a … MINNEAPOLIS (FOX 9) - Delta Air Lines is permanently retiring its Boeing 777 fleet by the end of the year, the company announced Thursday. The crisis is claiming hundreds of jets from airline fleets, including six types at American Airlines — A330s, Boeing 757s and 767s, Bombardier CRJ200s and Embraer E190s. The coronavirus pandemic has claimed another victim in the fleets of U.S. airlines with Delta Air Lines saying that it will retire its Boeing 777s. CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners. According to Bastian, the decision was made due to the drop in travel demand caused by the coronavirus (COVID-19) pandemic. Everything US citizens need to know about the Bahamas’ simplified entry process, The Platinum Card® from American Express, Blue Cash Preferred® Card from American Express, Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. The wide-body jets also featured some of Delta’s newest cabins. Delta plans to retire its 18 widebody Boeing 777s by the end of 2020 as a result of the COVID-19 pandemic. The capacity cuts mean Delta will need fewer pilots as the pandemic forces it to transform into a smaller airline. Delta Air Lines announced the retirement of their Boeing 777 fleet by the end of 2020. Delta will also accelerate a plan to retire the McDonnell Douglas MD-90 and remove the jets in June. The airline will take an accounting charge of as much as $1.7 billion for the retirement of the 777s and other previously parked smaller planes, according to a regulatory filing Thursday. “Retiring a fleet as iconic as the 777 is not an easy decision. Delta only had 18 777s in its fleet. The slew of retirement announcements follows the announcement of an exit deadline for the Boeing 777-200s at DL along with the 2017 retirement of the Boeing 747-400. For an explanation of our Advertising Policy, visit this page. Is Amtrak’s big Rail Passengers Association point bonus worth the cost? That includes 10 of its 18 777s as well as all of its Airbus A320s. While the jet was viewed as too large for the L-1011s primarily U.S. domestic routes, the … With half of the fleet already parked, Delta said it would have 7,000 more pilots than it needs by the fourth quarter. Delta is shrinking in response to … Delta's plans to retire 110 single-aisle jets … The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. Atlanta, GA - On Saturday, Delta Airlines is set to retire the 777 aircraft from their fleet. Delta Air Lines is retiring its fleet of Boeing 777s, signaling the depth of the impact on air travel from the coronavirus pandemic. Related: The ultimate guide to Delta One Suites. This includes its A350-900 flagship that features 32 of its Delta One business class suites, and the new A330-900 that the airline debuted last July. Delta's CEO says 'retiring a fleet as iconic as the 777 is not an easy decision.' Delta said the 777 fleet included 18 aircraft. Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. The 777s are the airline’s smallest standalone fleet. Delta joins American Airlines Group Inc. in retiring entire aircraft models from its fleet, an indication of the breadth of changes carriers are making to reduce operating costs amid revenue declines of as much as 95% and flying reductions of 85% or more. All Boeing 747-451 aircraft were inherited from the Delta-Northwest merger. The coronavirus pandemic has claimed another victim in the fleets of U.S. airlines with Delta Air Lines saying that it will retire its Boeing 777s. Boeing originally pitched the 777 as a replacement for Delta’s Lockheed L-1011 fleet in 1996, according to reporting by The Atlanta Journal-Constitution. Learn more. Disclaimer: The responses below are not provided or commissioned by the bank advertiser. The same week that five U.S. senators introduced legislation to give customers full cash refunds for any flight canceled during the coronavirus outbreak, Delta said it had returned more than $1.2 billion to passengers since the pandemic began. The move comes a day after the International Air Transport Association (IATA) forecast that it could be three to four years before international travel returns to pre-COVID levels. Prior to the crisis, Delta flew the 777 on its longest routes around the world, according to Cirium schedules. Delta spokesperson Morgan Durrant told TPG that there is “no additional guidance” on the future of the airline’s Boeing 767 fleet. Aircraft retirements to prompt as much as $1.7 billion charge, Carrier sees 7,000 too many pilots this fall, fewer in 2021. The latest moves follow the airline's May decision to retire all 18 of its Boeing 777 widebody jets this December. The carrier said it will rely on its “more fuel-efficient and cost-effective” Airbus SE A350-900 and A330 planes to serve long routes. MIAMI – Delta Air Lines (DL) has made the decision to permanently retire by the end of 2020 its Boeing 777 fleet, comprised of 18 aircraft, due to the unprecedented drop in travel demand amid the COVID-19 pandemic and global economic shutdown. “We are looking at all options to minimize potential furloughs and offset impact on our pilots through additional voluntary programs and cost-saving measures,” Laughter said. Delta is also saying goodbye to its McDonnell Douglas MD-88s and MD-90s. Delta Air Lines is retiring the Boeing 777, an international jet that it has long depended on to jet passengers off to exotic locales from Johannesburg to Seoul. Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. Delta Air Lines Inc. is retiring its fleet of Boeing Co. 777’s and warning its pilots of massive overstaffing as the carrier grapples with the unprecedented collapse in … This is part of Delta’s strategy of simplifying and modernizing their fleet, while continuing to operate newer and more cost-efficient aircraft. The amount includes $160 million so far this month, Delta said. Have a confidential tip for our reporters? Delta’s 18 Boeing 777s … By labeling the larger planes have no use in today’s market, it potentially reduces their value as the airlines seek additional financing using the aircraft as collateral, he said in a Bloomberg blog on airlines Thursday. As Delta Air Lines prepares to retire the Boeing 777 from its fleet by the end of this month, it is important to remember that this type is relatively young compared to other of Delta’s planes and entire fleet types. Delta Air Lines surprised us all yesterday by announcing it would retire its Boeing 777 fleet by the end of 2020. This post contains references to products from one or more of our advertisers. Specifically, it says it will retire all 18 of its Boeing 777 by the end of this year, a move that it says will modernize its fleet. 777s have flown 1.26 million flight hours on over 133,000 flights for Delta. See, years before international travel returns, Air travel travel won’t return to pre-coronvirus levels until 2023, Why the new Airbus A220 is popular with airlines during the coronavirus pandemic, Calling all Queen’s Gambit fans: There’s a new hotel room in Lexington, KY, just for you. Get Coronavirus travel updates. Delta Air Lines Inc. plans to retire its 777 jumbo jets made by Boeing Co. and replace them with Airbus SE aircraft in another hit for the beleaguered U.S. plane maker. Future of the Fleet This news is tough to hear. Removing 18 of its biggest aircraft by the end of the year would leave even more pilots without work as almost all customers stay home. The A350’s range of 9,321 miles is about 1,500-miles shorter than that of the 777-200LR. “International air travel is really dependent on a relaxation of travel restrictions.”, Related: Air travel travel won’t return to pre-coronvirus levels until 2023. Delta’s 777 retirement in favor of Airbus jets is tinged with irony. “Management should first discuss and consider ALPA’s proposals before the company heads down a path of drastic cuts, which will cost more in the long run to execute, and harm thousands of Delta pilots and their families,” Chris Riggins, a union spokesman, said in a statement. *Bonus value is an estimated value calculated by TPG and not the card issuer. “Retiring a fleet as iconic as the 777 is not an easy decision,” Delta Chief Executive Officer Ed Bastian said in a memo to employees. Why would Delta retire this iconic long-range aircraft that it only recently retrofitted with new seats? “The 777 played an important role with Delta since 1999, allowing us to open new long-haul markets and grow our international network as we transformed into a global airline.”, Read more: ‘Mad Dog’ Goes Silent With Delta’s Retirement of Workhorse Jet. The Atlanta-based carrier will remove its 18 777-200s by year-end on expectations of a long and slow recovery in international travel after the crisis, Delta CEO Ed Bastian told staff in a memo on Thursday. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Delta to retire Boeing 777 aircraft fleet to rein in costs Back to video. ALL RIGHTS RESERVED. It is not clear whether the A350-900 can operate these routes without restrictions, for example limiting the number of passengers onboard. This site does not include all credit card companies or all available credit card offers. Delta Air Lines has today revealed plans to simplify its widebody fleet amid the current coronavirus pandemic. The move will leave Delta with a wide-body fleet made up of primarily Airbus jets by next year. The Atlanta-based carrier will remove its 18 777-200s by year-end on expectations of a long and slow recovery in international travel after the crisis, Delta CEO Ed Bastian told staff in a memo on Thursday. The Air Line Pilots Association, representing 14,000 Delta aviators, said the carrier has not worked with the union on the voluntary measures it’s proposed to immediately reduce cash burn and achieve savings targets. Either $5 or 5% of the amount of each transfer, whichever is greater. Terms apply to the offers listed on this page. Rescue Teams Resume Search for Missing Plane in Indonesia, ‘Full-Blown Mania’: Stock Market Jackpot Bells Just Keep Ringing, Citi and JPMorgan Join Marriott in Pausing Political Donations, Indonesia Jet Broke Up When It Hit Sea, Not While Still in Air, N.Y. Cases Slow After Record; New Strain in Japan: Virus Update. For example, 60,000 points are worth $750 toward travel. Delta said it plans to use Airbus A330s and A350-900 series jets, which are more fuel-efficient, in its long-haul flights when demand for international travel resumes. Delta CEO Ed Bastian said on Thursday that the airline would retire its fleet of 18 Boeing 777 wide-body jets by the end of this year. Delta’s retirement of the 777s also “will hurt” American and United Airlines Holdings Inc., said George Ferguson, a Bloomberg Intelligence analyst. “While we know that we will eventually see growth and the return of our customers, our challenge is predicting the pace and timing of this return -- which will be slower than any of us hoped,” John Laughter, Delta’s senior vice president of flight operations, said in a memo to pilots viewed by Bloomberg News. We may receive compensation when you click on links to those products. A bolder move was Delta's May decision to retire its Boeing 777 fleet by year-end. He called the 7,000 unneeded pilots “an alarming number.”. The number accounts for expected pilot retirements. Plans with the most dentists in the networks, great savings, easy to join and easy to use - no wonder Delta Dental has the most members. Related: Why the new Airbus A220 is popular with airlines during the coronavirus pandemic. That’s about half of the company’s aviator corps. The retirement will accelerate the airline’s strategy to simplify and modernize its fleet, while continuing to operate newer, more cost-efficient aircraft. Delta has taken deliveries of 777s well into the 2010s, and the last flight from New York to Los Angeles will be flown by one of Delta’s youngest 777-200LR planes. Delta CEO Ed Bastian announced on Thursday that the airline will permanently retire its Boeing 777 fleet by the end of the year. Delta expects to record impairment charges of $1.4 billion to $1.7 billion as a result of the aircraft retirements. Key Points The carrier is retiring its Boeing 777 fleet, a sign that it doesn’t expect international long-haul travel to return quickly. This site does not include all credit card companies or all available credit card offers. Delta is retiring its full Boeing 777 fleet, describing it as a necessary move to help "stem the bleeding" caused by the coronavirus crisis. Delta’s 777s are the latest casualty of the coronavirus. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear).
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