Actionable insights straight to your inbox

logo_equities.svg

Delta Air Lines To Resume Flights Between US and China This Week

The airline said it would resume flights between Seattle and Shanghai on June 25, making it the first US airline to restart operations between the US and China since flights were suspended in February.

Image: Boeing 777. Source: Delta Air Lines

(Reuters) – Delta Air Lines Inc said on Monday it would resume flights between Seattle and Shanghai on June 25, making it the first U.S. airline to restart operations between the United States and China after flights were suspended in February due to the COVID-19 pandemic.

The flights will operate twice a week in June and once a week starting July from Seattle and Detroit, Delta said.

Last week, the U.S. Transportation Department said the United States and China would each allow four weekly flights between the two countries, easing the standoff on travel restrictions in the midst of the novel coronavirus pandemic.

However, the United States on Friday rejected a request by Chinese airlines for additional weekly flights between the two countries, but said the decision was not meant to escalate tensions over travel restrictions.

United Airlines had also said it was looking to re-launch flights to China in the coming weeks.

Delta, which added 100 domestic flights in June as state-wide lockdowns were lifted, has said it expects to end the year with $10 billion in cash and cash equivalents.

Shares of the company were down 1.3% at $29.11 in morning trade.

Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi

._____

Source: Reuters

Many people think of position size in terms of how many shares they own of a particular stock. But it’s much smarter to think of it in terms of what percentage of your total capital is in a particular stock.