Latest News by Industry
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.
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