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Delta says the summer travel season may be a sweet one as the pandemic eases and consumers and business travelers return to the skies.
“While we are confident in summer demand and the capacity plans that we have in place given the macro uncertainty, we will remain nimble on capacity for the second half of the year and continue to prioritize sustained profitability,” said Delta CEO Ed Bastian on the carrier’s earnings conference call Thursday. He also noted the airline returned to profitability in March which he says is sustainable through the 2022 year.
The carrier also noted that a snapback in demand is helping ease the spike in fuel, which is trading above $100 per barrel.
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Delta shares gained over 6% during Thursday’s session, other airlines rallied on the positive outlook.
SOUTHWEST PILOTS DELIVER DIRE WARNING
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 41.04 | +2.43 | +6.29% |
| AAL | AMERICAN AIRLINES GROUP INC. | 18.95 | +1.82 | +10.62% |
| JBLU | JETBLUE AIRWAYS CORP. | 12.70 | +0.53 | +4.35% |
| UAL | UNITED AIRLINES HOLDINGS INC. | 45.14 | +2.41 | +5.64% |
In recent months, airlines have scrambled to meet a rapid rebound as the pandemic fades, at times encountering canceled flights and staff shortages.
Planes belonging to Delta Air Lines sit idle at Kansas City International Airport (Photo by Jamie Squire/Getty Images / Getty Images)
Delta, however, says it is prepared to meet those challenges.
“We feel good about our staffing and our ability to meet demand as we continue to restore the airline” Bastian added.
June will be a telltale month with Delta forecasting a 93% to 97% return to 2019 revenue levels.
For the first quarter reported Thursday, Delta lost $940 million or $1.23 per share, excluding special items. Revenue topped $9.3 billion.
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Delta shares have gained over 11% this year.
