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The Clark Howard Podcast

10.14.20 The airlines are losing massive amounts of money; Protecting your brokerage account

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.64.9K Ratings

🗓️ 14 October 2020

⏱️ 36 minutes

🧾️ Download transcript

Summary

Delta Airlines just announced that they lost over $5 billion in Q3. The travel recovery could take a while and Clark discusses how the difficulty in the travel space affects you and your wallet. Is your brokerage account at risk? Clark talks about what you can do to keep your investing dollars safe. Want more money advice? Sign up for Clark’s free daily newsletter! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's my pleasure to welcome you here to the Clark Howard Show where it's all about

0:10.5

you learning ways to save more and spend less and don't let anyone ever rip you off.

0:17.7

Recently I was looking for seats from my daughter to fly home to visit us from college during

0:28.0

the Thanksgiving holiday period and it was kind of stunning that the fairs were like other

0:37.2

years around Thanksgiving that you would think that there would be just phenomenal deals

0:44.9

going on because the demand for air travel is so tiny compared to what it has been historically.

0:56.7

That there are factors you need to know about trying to get a bargain right now that I want

1:04.1

to make sure that you are aware of and know how to get the best deal.

1:11.1

So demand for travel, way, way, way, way down.

1:16.4

Business travel evaporated.

1:19.9

Business reporting losses that are numbers that are so large we even have trouble grasping

1:25.8

them.

1:27.3

One of the very best run airlines in the world and somewhere like the second or third largest

1:34.0

airline in the world delta airlines over the last six months has lost over $11 billion

1:40.0

billion.

1:42.0

I mean unbelievable losses.

1:45.6

So here's the story.

1:49.0

As has parked as many planes as makes sense for them to park and they're eliminating certain

1:56.6

types of aircraft that they plan to keep flying originally for years getting rid of them

2:03.5

earlier, shedding types of aircraft, reducing their overall fleet size, reducing their staff.

2:11.2

I mean delta alone says that their corporate staff is going to be 25% smaller than it used

2:17.8

to be.

...

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