{"id":166818,"date":"2024-07-11T13:30:37","date_gmt":"2024-07-11T13:30:37","guid":{"rendered":"https:\/?p=166818"},"modified":"2024-07-11T22:24:58","modified_gmt":"2024-07-11T22:24:58","slug":"deltas-net-income-drops-29-in-second-quarter","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2024\/07\/deltas-net-income-drops-29-in-second-quarter.html","title":{"rendered":"Delta’s net income drops 29% in second quarter"},"content":{"rendered":"\n

U.S. airline Delta Air Lines<\/strong> reported a 29% drop in second-quarter net profit on Thursday, despite posting record business volume amid strong demand.<\/p>\n\n\n\n

The company said in a statement that in the quarter ended June 30, net income was $1.3 billion, compared to $1.83 billion a year earlier.<\/p>\n\n\n\n

Its turnover increased by 7%, reaching some 16,660 billion dollars.<\/p>\n\n\n\n

Delta faced rising jet fuel prices and wage costs in the second quarter, and also projected lower-than-expected earnings for the third quarter. This affected the stock performance of airline shares amid investor concerns about weakening airfares.<\/p>\n\n\n\n

\u2192 Delta, Riyadh Air sign strategic agreement to expand connectivity<\/a><\/em><\/strong><\/p>\n\n\n\n

Executives offered an upbeat outlook on demand during a conference call, but the company also maintained that growth was “normalizing” after a large rebound following the blockages framed by the covid-19 pandemic restrictions.<\/p>\n\n\n\n

“Travel remains a buying priority and Delta’s core customers are in a healthy position,” CEO Ed Bastian said in a conference call with analysts.<\/p>\n\n\n\n

Bastian expressed confidence in a “more constructive industry backdrop” in the second half of 2024, as rival airlines focus on profitability through higher fares.<\/p>\n\n\n\n

With information from AFP<\/p>\n\n\n\n

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