Rapid Response: Burning cash, accepting turbulence w/Delta CEO Ed Bastian
06.27.2020 - By Masters of Scale with Reid Hoffman
A surprisingly candid and upbeat interview on the industry hardest hit by the pandemic. Delta saw seat bookings fall to less than 5% of normal, had 40,000 employees go on unpaid leave, and raised $14 billion in funding – all to withstand a cash burn that still stands at $30 million a day. To rebuild traveler trust, Delta CEO Ed Bastian has enacted a slew of new safety standards, including capping flight loads at 60 percent and using hospital-grade HEPA filters on board – in fact, Bastian contends there's not a safer time to be on a plane than right now. He's also sped up forward-facing company initiatives, like phasing out less-efficient planes, building out airport terminals, and installing better wifi. Bastian acknowledges there will be fewer planes in the sky in years to come, but he believes Delta will come out of the pandemic as strong and essential as ever. Interviewed by editor Bob Safian.
Read a transcript of this episode: https://mastersofscale.com/rapidresponse/
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