Originally Posted by
TrojanTraveler
I saw that in the Journal this am. Will be interesting to see how it plays out. DL is clearly in survival mode.
DL was at $15.7B of liquidity at the end of Q2 2020. They just mentioned last week that they are currently averaging daily cash burn of $27m for Q3, so they will be at around $13.2B at the end of Q3. With this $6.5B, they should be at close to $20B cash by the end of Q3.
This fund-raising also means they will not be taking the government loan of about $5B that was available to them as part of the CARES Act; they had until Sep 30 to decide whether to go through with that loan even though they had signed a letter of intent for that earlier.