Delta Looks Toward Recovery After Dark Pandemic Winter

Delta Air Lines Inc. said it is hunkering down for a long, dark winter as the coronavirus pandemic drags on but still expects air-travel demand to turn a corner this year.

Delta on Thursday reported a net loss of $755 million for the fourth quarter, compared with a profit of $1.1 billion in the same period a year earlier. That brought the airline’s 2020 losses to nearly $12.4 billion, making it the company’s worst year ever and marking its first annual loss since 2009.

The...