Delta Air Lines soared to a record quarterly profit of more than $1.8 billion as summer vacationers packed planes, especially to international destinations, and the airline enjoyed a tailwind from falling fuel prices
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 at the beginning of the July-through-September quarter, when it expects revenue similar to the record second quarter, and even into the December holidays. Savanthi Syth, an airline analyst for Raymond James, said Delta’s comments are positive for rivals American and United, which also get a large chunk of revenue from international flights. Last year, when travel to many countries was still restricted, domestic-looking airlines such as Southwest benefitted.
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. 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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