Delta Air Lines Inc. (DAL) and JetBlue Airways Corp. (JBLU) announced first-quarter results in late April and provided updates on the industry’s new normal for pricing, revenue management, marketing programs, fuel costs and more.
Delta Air Lines has released its first-quarter results, and the company also updated their plans for the future. Delta Air Lines provided some interesting statistics about their passenger numbers for 2021.
Delta Air Lines announced financial results and corporate updates for the first quarter of 2022, as well as a second-quarter projection.
The airline reported an adjusted operating loss of $793 million in the first quarter, excluding a $9 million net gain. The airline also announced a $1.2 billion pre-tax loss, with an adjusted pre-tax loss of $1.0 billion, eliminating a $164 million net charge.
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In addition, Delta authorities said that adjusted operating revenue of $8.2 billion was up 79 percent from March 2019 on 83 percent restored capacity.
Business travel is also on the mend, according to the firm, which said that domestic corporate sales for the quarter were roughly 50% higher than in the previous year, with March sales up to 70% higher than in 2019. International corporate sales improved by 35% in March compared to the same month last year.
“We recovered to profitability in March, earning a respectable adjusted operating margin of approximately 10%,” Delta CEO Ed Bastian said, citing a significant resurgence in demand as omicron diminished. “We are effectively recapturing increased gasoline costs as our brand preference and demand momentum build, supporting our target for a 12 to 14 percent adjusted operating margin and solid free cash flow in the June quarter.”
“I’d want to thank the Delta team for enabling our best-in-class operational performance, providing an unrivaled customer experience, and continuing to fuel our industry leadership every day,” Bastian said.
Delta also revealed that premium cabin revenue is recovering faster than Main Cabin, with premium items sales returning to 2019 levels in March. During the March quarter, domestic and Latin premium product sales recovery surpassed Main Cabin by almost ten points.
The firm announced important airport infrastructure milestones at Los Angeles and Seattle airports, expanded flexibility by extending ticket validity until year-end 2023, reintroduced Delta One services, and more throughout the quarter.
Delta also produced a report on diversity, equity, and inclusion, as well as a report on climate lobbying, a report on global advocacy efforts, and an extended relationship with Gevo, a manufacturer of sustainable aviation fuel (SAF).
Delta Air Lines provides first-quarter results, company updates. In the earnings call transcript, Delta CEO Ed Bastian says that the company is going to focus on its core business of flying people and freight. Reference: delta q2 earnings call transcript.
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