From CNBC: 2024-04-10 08:26:51

Delta Air Lines successfully delivered an Airbus A330-941 from Toulouse, France, to Atlanta. CEO Ed Bastian noted strong bookings for both leisure and business travel as the peak season approaches. Delta forecast second-quarter earnings of $2.20 to $2.50 per share, with revenue potentially rising up to 7%. Business travel sales have shown a 14% increase, particularly in technology, consumer, and financial sectors.

The company’s performance in the first quarter exceeded Wall Street expectations. Adjusted earnings per share were 45 cents versus an expected 36 cents, while adjusted revenue was $12.56 billion, just shy of the expected $12.59 billion. Delta made $37 million, or 6 cents per share, in the first three months, a significant improvement from the year-earlier period’s loss of $363 million.

Despite a 6% increase in revenue from last year, Delta’s unit cost, excluding fuel, rose by 1.5%. Domestic unit revenue grew by 3%, with airplane loads setting records for the quarter. CFO Dan Janki highlighted a focus on restoring core hubs and improving efficiency, as the company aims to capitalize on a period of growth normalization.



Read more at CNBC: Delta Air Lines (DAL) Q1 2024 earnings