Candorium Free Members
Join Candorium to access the full article and more
Free Member Benefits:
✔
Comment & Reply✔
Newsletter Access✔
Follow Authors✔
Share via SMS Go Back
Delta expects to return to profitability amid high travel demand
By Shubhangi Mathur - Apr 14, 2022, 02:11 AM ET
Last Updated - Feb 21, 2024, 03:26 PM EST
The airline reported a loss of $940 million in the first quarter
Delta Air Lines Inc (NYSE: DAL) said on Wednesday that high travel demand would help the airline combat soaring oil prices.
On Wednesday, the airline reported a loss of $940 million in the first quarter and expects returning to profitability in the second quarter.
Sponsored
Delta Chief Executive Ed Bastian said travel demand has soared in the country despite rising inflation and high air fares.
“We are seeing an historic level of sales activity and booking volumes at levels higher than we’ve ever seen in our history,” Bastian said, reported WSJ.
“There appears to be no concerns, candidly, about any variant or the virus,” he said addressing the recent spread of the new Omicron variant in some parts of the country. “Everyone is ready to get past it.”
In the US, airfare surged in March amid high fuel prices and increased demand for travel.
Consumers spent $8.8 billion on domestic U.S. airline tickets last month, up 28% compared with March 2019, before the Covid pandemic, while fares surged 20%, according to the Adobe Digital Economy Index data.
Picture Credits: Getty Images
Sponsored
Read More from Market Analysis
Read More from Investing
Popular News
Latest News
