Delta Sees $1.11 Billion Profit , Ahead of Strong Holiday Bookings.
ABC reports that Delta Air Lines
gained $1.11 billion in profits as summer
travelers packed planes in the third quarter. .
On October 12, the carrier said it expects
revenue to continue rising through
the upcoming holiday season.
Despite higher labor costs, Delta saw profits increase
by 59% from 2022 with strong ticket sales, including
for premium seats and international flights.
ABC reports that the Atlanta-based company
predicts fourth quarter and 2023 overall
profits to mostly exceed Wall Street forecasts. .
I think we’re closing the year
strong, and the holiday bookings
that we see right now are pretty
good. Domestic (travel) is solid,
and international is really strong, Ed Bastian, Delta Air Lines CEO, via ABC.
In the third quarter, travelers flew
approximately 64 billion miles on Delta
flights, a 17% increase for the carrier. .
ABC reports that Delta's revenue
from main cabin ticket sales increased
12% and 17% for premium seating. .
Over the same period, revenue
from the carrier's SkyMiles
loyalty program jumped 21%.
According to a FactSet survey, Delta's
third quarter profit of $2.03 per share
was 8 cents higher than analyst forecasts.
The carrier's revenue, which grew
11% to reach $15.49 billion, also
exceeded analysts' expectations.