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Would you like me to give you a formula for success? It’s quite simple, really: Double your rate of failure. You are thinking of failure as the enemy of success. But it isn’t at all. You can be discouraged by failure or you can learn from it, so go ahead and make mistakes. Make all you can. Because remember that’s where you will find success.
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Delta to reduce cash burn as it braces for sluggish recovery from pandemic

Delta to reduce cash burn as it braces for sluggish recovery from pandemic

(Reuters) – Delta Air Lines Inc (DAL.N) reported on Wednesday its first quarterly loss in eight years as the coronavirus crisis devastates air travel demand, but said its daily cash burn would slow through June as it braces for a recovery that could take two to three years.”We should be prepared for a choppy, sluggish recovery even after the virus is contained,” Chief Executive Ed Bastian said in an employee memo on Wednesday.

FILE PHOTO: Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, U.S. March 25, 2020. REUTERS/Elijah Nouvelage

In a matter of months, U.S. airlines like Delta have gone from expansion to survival, searching for ways to raise and save as much cash as possible as flight cancellations started outnumbering new bookings around mid-March.

By the end of the quarter, passenger volumes had dropped by as much as 95 percent and Delta was burning $100 million per day.

After a series of cost-cutting measures and capital raisings, including a government bailout, the airline’s daily cash burn will slow to about $50 million by the end of June, it said, when it expects to have $10 billion in liquidity.

It had $6 billion in liquidity in March.

Delta shares rose 4.1% in premarket trading, with Cowen analyst Helane Becker pointing to cash conservation as “the name of the game” for airlines in the near term.

Atlanta-based Delta said

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Tissue sales help Kimberly-Clark beat quarterly results

Tissue sales help Kimberly-Clark beat quarterly results

(Reuters) - Kimberly-Clark Corp (KMB.N) said on Wednesday sales of tissue and toilet paper rose 13% in the first quarter as consumers stocked up in preparation for the coronavirus pandemic, helping the company beat Wall Street estimates for profit and sales. FILE...

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Delta to reduce cash burn as it braces for sluggish recovery from pandemic

(Reuters) - Delta Air Lines Inc (DAL.N) reported on Wednesday its first quarterly loss in eight years as the coronavirus crisis devastates air travel demand, but said its daily cash burn would slow through June as it braces for a recovery that could take two to three...

Tissue sales help Kimberly-Clark beat quarterly results

(Reuters) - Kimberly-Clark Corp (KMB.N) said on Wednesday sales of tissue and toilet paper rose 13% in the first quarter as consumers stocked up in preparation for the coronavirus pandemic, helping the company beat Wall Street estimates for profit and sales. FILE...

Rogers pulls 2020 outlook, misses estimates as coronavirus crisis deepens

FILE PHOTO: Rogers Communications logos are seen above a booth during the media day at the Canadian International AutoShow in Toronto, Ontario, Canada, February 14, 2019. REUTERS/Chris Helgren(Reuters) - Canada’s Rogers Communications Inc on Wednesday pulled its 2020...