Delta Air Lines said Friday that it earned $828 million in the fourth quarter and that consumers are still snapping up flights and making other purchases with their airline-branded credit cards.
A Delta Air Lines plane takes off from Hartsfield-Jackson Atlanta International Airport in Atlanta, Nov. 22, 2022.
Both carriers and other U.S. airlines have been helped by strong demand for travel and a limited number of flights — a combination that has pushed fares higher.Airlines say that a shortage of pilots, especially at regional feeder airlines, has curtailed their ability to operate more flights. However, Delta expects to be operating at around full pre-pandemic levels by this summer.
It is also unclear whether consumers will continue to spend freely on travel while facing higher prices for food, housing and other essentials. Even though inflation eased in December for the sixth straight month, it remained a staggering 6.5% compared with a year earlier.Bank of America analyst Andrew Didora said he expects Delta to boost free cash flow generation in 2023, allowing it to pay down debt more effectively than American or United.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Delta Air Lines sales, profits top estimates in strong finish to 2022Delta and other airlines had said demand remained strong throughout the quarter.
Read more »
Holiday payoff: Delta Air Lines posts $828M profit in 4QDelta Air Lines said Friday that it earned $828 million in the fourth quarter and that consumers are still snapping up flights and making purchases with their airline-branded credit cards. The Atlanta-based airline said momentum has carried over into the new year, as the travel industry continues to recover from the worst of the pandemic.
Read more »
Delta Air Lines forecasts labor costs will weaken profits after strong quarterDelta Air Lines reported strong fourth-quarter earnings Friday. However, the carrier is expecting higher non-fuel operating costs including labor costs.
Read more »
Holiday payoff: Delta Air Lines posts $828M profit in 4QThe Atlanta-based airline said momentum has carried over into the new year, as the travel industry continues to recover from the worst of the pandemic.
Read more »
Here's what Delta Air earnings say about the rest of the industryDelta Air Lines Inc.'s quarterly earnings beat fuels hope that other major U.S. air carriers will surprise Wall Street with better-than-expected profit snapshot
Read more »
FAA releases audio from deadly Wings Over Dallas Air Show crash between air boss, pilotsNewly released audio from the Wings Over Dallas air show gives insight into the moments before and after the collision that killed six airmen and destroyed...
Read more »