Delta Airlines Revenue Skyrockets
Delta Air Lines Inc. has predicted that the company’s profits will rise this year, according to The Wall Street Journal. Huge travel demand as well as the grounded Boeing Co. 737 MAX planes have contributed to Delta’s rise.
Delta, unlike many other U.S. airlines, does not use any Boeing MAX planes, which were grounded in March after two deadly crashes. Companies such as American Airlines, Southwest Airlines, and United Airlines Holding had no choice but to remove an extraordinary amount of flight from their schedules with the grounding of the planes.
Delta reported that revenue rose 8.7% from last year, reaching $12.5 billion, a new record for the company.
“The momentum is really strong,” Delta CEO Ed Bastian said. “Forward bookings for the rest of the summer look strong.”
During the second quarter, Delta’s flying capacity ballooned by 4.7%. In contrast, American Airlines revealed that its capacity fell during the same quarter.
Delta has since raised its 2019 profit guidance to between $6.75 and $7.25 a share. Before, it was $6 to $7 a share.
Read the full story here.