With the demand for travel experiencing a drastic rise in recent times, Delta Air Lines confirmed recently that it expects to remain profitable for the remainder of the fiscal year. Furthermore, the Atlanta, Georgia-based airline revealed that it has exceeded estimates in its latest quarterly earnings. “The days of cash burn are behind us,” Delta Chief Executive Officer Ed Bastian announced after news of his company’s financial upturn was made public.
As international markets gradually reopen, Delta has managed to generate a significant portion of profit thanks to corporate ticket sales, particularly for business hubs across the United States such as Boston and New York. According to the airline, domestic travel has returned to 2019 levels.
In an effort to cater to the uptick in demand, U.S. airlines across the board are rushing to employ more pilots and flight crew members.
Delta revealed that it expects its adjusted operating revenue for the September quarter to hover between 30% to 35% with a midpoint at $8.47 billion. This would be a significant improvement from the 60.4% slump that the airline experienced in the first quarter of the fiscal year.
