SKY - Airline stocks gain after Delta hints at 'cash burn positive' spring

Airline stocks are higher after Delta Air Lines ([[DAL]] +3.6%) is the first to report Q4 earnings and give some details on the outlook for 2021. The biggest focus by investors with consensus estimates not applicable as normal is the update on cash burn. Delta said it halved its cash burn rate to $12M a day in Q4 from the $24M per day in Q3 and expects to be cash flow positive sometime in the spring."While our challenges continue in 2021, I am optimistic this will be a year of recovery and a turning point that results in an even stronger Delta returning to revenue growth, profitability and free cash generation," noted Delta CEO Ed Bastian.Advancers include American Airlines ([[AAL]] +3.7%), United Airlines ([[UAL]] +4.2%), JetBlue ([[JBLU]] +3.8%), Southwest Airlines ([[LUV]] +1.4%), Mesa Air Group ([[MESA]] +6.0%), SkyWest ([[SKY]] +1.9%) and Alaska Air Group ([[ALK]] +3.3%) following the Delta update.

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Airline stocks gain after Delta hints at 'cash burn positive' spring