Delta Air Lines tops quarterly expectations, expects record June quarter revenue
) reported first-quarter earnings that surpassed Wall Street expectations, buoyed by strong demand and operational performance. The company's shares climbed 4.56% as it also projected record revenue for the upcoming June quarter.
Delta's CEO, Ed Bastian, attributed the successful quarter to the"extraordinary work of our 100,000 people," noting the company's operational reliability and the $1.4 billion in profit-sharing payouts made during the quarter. President Glen Hauenstein highlighted the 6% revenue increase over the prior year, with adjusted total unit revenue down only 0.7%, including headwinds from cargo and maintenance, repair, and overhaul services.
The airline's cost performance also showed improvement, with CFO Dan Janki noting a pre-tax income of $380 million, up $163 million from last year. Operational excellence contributed to the best March quarter completion factor in Delta's history, providing additional capacity growth and unit cost favorability.
Delta's operational and financial metrics indicate a strong recovery trajectory, with the airline capitalizing on returning corporate travel and robust demand in both domestic and international markets. As travel continues to rebound, Delta's strategic investments and operational efficiency are poised to drive further growth and shareholder value.
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