Delta Air Lines on Thursday forecast higher-than-expected profit for the second quarter, citing 'record' bookings for summer travel, including strong demand for international trips.
A Delta Air Lines Airbus A350-900 plane takes off from Sydney Airport in Sydney, Australia, October 28, 2020. REUTERS/Loren Elliott/File Photoon Thursday forecast higher-than-expected profit for the second quarter, citing "record" bookings for summer travel, including strong demand for international trips.The company's earnings in the January-March quarter, however, fell short of Wall Street estimates.
Bastian remained upbeat about consumer demand despite growing risks of an economic recession. Premium cabin revenue"Consumers are anxious to travel," he said, adding that demand for international travel was especially strong this summer and travelers were booking trips well in advance. Travel demand in the United States is currently strong but rising interest rates, persistently high inflation, mounting job losses and a turmoil in the banking industry have cast a shadow over consumer spending.
U.S. carriers have leveraged the demand to offset rising labor and fuel bills with higher ticket prices. But investors are worried that any pullback in travel spending would hurt airline profits.
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