Delta Air Lines reported unprecedented quarterly profit and revenue and raised its expectations for a year after travelers took to the skies in huge numbers, defying some forecasts of a pullback in spending.
FILE - A Delta Airlines plane leaves the gate on July 12, 2021, at Logan International Airport in Boston.
Delta officials said strong demand for tickets has continued into the July-through-September quarter, when it expects revenue similar to the record second quarter. Bastian conceded that corporate travel “is off sizably,” especially considering recent economic growth. He remains confident, however, that it will grow steadily. At the same time, he said, some customers are taking advantage of hybrid work arrangements to take trips that combine work and pleasure.
In the second quarter, Delta’s revenue from sales of premium seats and services rose 25% — better than the 18% gain in the main cabin. Bastian said the figures mostly reflected disruptions caused by storms along the East Coast last month. He said operations should be smoother the rest of the summer. He declined to join others — notably, United Airlines CEO Scott Kirby and JetBlue Airways President Joanna Geraghty — in blaming the Federal Aviation Administration, which is struggling to fix a shortage of air traffic controllers.
The airline said adjusted profit, which excludes some one-time items, was $2.68 per share. Analysts expected $2.40 per share, according to a survey by FactSet.Revenue rose 13% to $15.58 billion. Adjusted revenue, which excludes the company’s oil refinery near Philadelphia, was $14.63 billion, enough to beat analysts’ prediction of $14.44 billion.
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