Delta Air Lines profit jumps almost 60% after strong summer
Publishing timestamp: 2023-10-12 10:51:04
Summary
Delta Air Lines' profit rose nearly 60% in the third quarter, driven by strong travel demand, particularly for international trips. However, the company forecasted full-year earnings towards the lower end of its earlier estimate due to a jump in fuel prices. Delta expects solid travel demand in the last three months of the year and anticipates a rise in revenue. The company performed better than expected in terms of adjusted earnings per share and adjusted revenue. Delta reported strong demand for trips abroad, with trans-Atlantic travel standing out. The company also saw an increase in demand for premium seats. Delta faced criticism from customers for making it harder to earn elite frequent flyer status and scaling back access to airport lounges, but changes to these policies may be announced soon.
Sentiment: POSITIVE
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Source: https://www.cnbc.com/2023/10/12/delta-air-lines-dal-q3-2023-earnings.html