Resurgence in international travel and strong recovery in corporate sales seen as the drivers
Delta Air Lines sees profit in the final months of the year outpacing Wall Street’s expectations, buoyed by a resurgence in international travel and the strongest recovery rates for corporate sales since the pandemic began.
The outlook suggests the carrier — and the broader airline industry — is gaining momentum in its recovery from a pandemic-driven slump. While demand from leisure passengers has largely come back, lucrative international travel by large corporations is the last segment to bounce back. That is particularly notable for Delta, where one-third of passenger revenue in 2021 was from premium products.
“We’ve been 90% full as an airline every day since the first of April,” he said. “We expect to see that through the end of the year and into the spring.”Corporate sales have recovered to 80% of prepandemic levels, with a particular jump after Labour Day, Delta said. Revenue in the third quarter from international passengers rebounded to 97% of the level from the same period in 2019, fuelled by trans-Atlantic trips.
Delta’s adjusted earnings were $1.51 a share in the past quarter, including a 3c impact from Hurricane Ian. That narrowly missed the $1.54 estimate from analysts. Revenue was $12.8bn, matching analysts’ predictions.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cartrack reports R445 million operating profitCartrack has reported a huge increase in half-year profits for parent company Karooooo.
Read more »
Local insurer partners with Waze to put women-owned businesses on the map - HypertextMomentum is partnering with navigation app Waze to highlight local women-owned businesses and put them on the map.
Read more »
Business Maverick: ECB’s Lagarde Says Euro Area Isn’t Currently in a RecessionEuropean Central Bank President Christine Lagarde said the euro-area economy is still growing even as concerns over the outlook continue to mount in the face of surging energy costs.
Read more »
SPL!NG Movie Review: Do Not Hesitate'Do Not Hesitate' isn't a music drama but signals by way of a possible tribute to the aforementioned films that things could get heated.
Read more »
There’s no recession in luxury with Dior, Mercedes sales boomingThe leap in sales reported by LVMH, the owner of LouisVuitton and ChristianDior, suggests that at least one segment of the economy remains immune to the crises assailing retailers — luxurygoods. Moneyweb BusinessNews
Read more »