Delta posts $5.4 billion 3Q loss as pandemic hammers trave
The summer travel season was even worse than expected for Delta Air Lines, which said Tuesday that it lost $5.4 billion in the third quarter as people hunkered down at home during the pandemic.
Delta officials pushed back their timetable for breaking even, from year-end to next spring, as their previous expectation that COVID-19 would be contained proved too rosy. The airline’s shares slipped in afternoon trading.
However, executives said passengers are starting to return and bookings for Thanksgiving and Christmas are looking up.
“It’s slow, but it’s steady — week by week, they are coming back,” CEO Ed Bastian said of passengers.
U.S. investigates fire reports in Chevy Bolt electric vehicles
DETROIT — The U.S. government’s road safety agency is investigating complaints that the Chevrolet Bolt electric vehicle can catch fire.
The probe by the National Highway Traffic Safety Administration covers nearly 78,000 Bolts made by General Motors from the 2017 through 2020 model years.
The agency says in documents posted on its website Tuesday that it has three reports of fires that began under the rear seat while the cars were parked and unattended. One person suffered smoke inhalation.
The fire damage appeared to be concentrated in the battery compartment area, spreading into the passenger area.
Swedish giant Ikea to buy back used furniture
STOCKHOLM — Flat-pack furnishings retailer Ikea said Tuesday that it will offer to buy back thousands of pieces of used Ikea furniture in 27 countries, for resale, recycling or donation to community projects.
The Swedish giant said Tuesday that its Black Friday event will be “an opportunity to meet customers’ needs in ways that contribute to a circular economy.” It will run from Nov. 24 to Dec. 3.
“A circular economy can only be achieved through investment and collaboration with customers, other businesses, local communities and governments, so we can eradicate waste and create a cycle of repair, reuse, refurbishment and recycling”, said Pia Heidenmark Cook, the group’s chief sustainability officer.