Delta reports $363 million loss in first quarter
U.S. airline Delta Air Lines on Wednesday reported a cumulative loss of $363 million (€329 million) through March, down 61% from the $940 million loss posted in the first three months of 2022, and advanced a revenue increase of up to 16% for the second quarter.
The company maintains a line of improving results, especially compared to the 1,771 million loss in the first quarter of 2021, but still remains far from pre-pandemic figures. Between January and March 2019 it posted a profit of 730 million.
Its adjusted operating income (Non-GAAP) for this period was 11.842 billion dollars, up 45% from 8.161 billion dollars in the same period last year, reported EFE.
→ Delta launches Propel Flight Academy to train next generation of pilots
For Delta’s chief executive, Ed Bastian, these results represent a “strong start” to the year. In a statement, he assured that the company provided wage increases and a greater share of profits to its shares “than the rest of the sector as a whole”.
Bastian also advanced that Delta expects to break a revenue record in the second quarter with adjusted operating income growth of 14% to 16%.
“With solid profitability in the March quarter and a strong outlook for the June quarter, we are confident in our full-year guidance of 15% to 20% year-over-year revenue growth, earnings of $5 to $6 per share and free cash flow of more than $2 billion,” added Delta’s top executive.
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