Delta Air Lines (NYSE: DAL) today reported financial results for the March quarter and provided its outlook for the June quarter.
"Delta’s results underscore the power of our brand and the durability of our financial foundation," said Ed Bastian, Delta's Chief Executive Officer. "We delivered earnings that were more than 40% higher than last year, even with a significant increase in fuel costs and operational disruptions across the industry. Our results are powered by the Delta people, who will always be our greatest competitive advantage. In February, we celebrated $1.3 billion in profit‑sharing payouts, similar to last year and more than the rest of the industry combined."
Bastian continued, "Demand remains strong, and we are taking actions to protect our margins and cash flow. This includes meaningfully reducing capacity growth, with a downward bias until the fuel environment improves, and moving quickly to recapture higher fuel costs. Delta is best positioned to navigate this environment, with a leading brand, strong financial foundation, and the benefit of our refinery. In the June quarter, we expect to lead the industry with $1 billion of profit. And while the recent fuel spike is currently impacting earnings, I’m confident this environment ultimately reinforces Delta’s leadership and accelerates long-term earnings power." | | |
