Delta Air Lines reported on its second-quarter financial results and provided predictions for the second half of 2024 today, highlighting how growth in its premium, corporate and international travel are driving its performance this year.
The second quarter saw a 5.4 percent revenue growth than the same quarter in 2023. Premium revenue grew 10 percent year-over-year, loyalty revenue grew 8 percent and corporate travel continued to grow in double-digits for the past six months.
We’ve covered how international travel is booming this year ahead of pre-pandemic and 2023 levels, and Delta Air Lines has enjoyed a four percent increase in international passenger revenue. The majority of this international growth comes from the Pacific and Latin America regions, though Europe remains highly popular for travelers from North America this year.
Second Quarter Financial Metrics:
Financially, Delta Air Lines reported a quarterly adjusted operating revenue of $15.4 billion, an operating income of $2.3 billion and a return on invested capital of 13.1 percent.
Shareholders received $2.36 per share. The airline predicts shareholders will enjoy $6-7 earnings per share this year. Total revenue year-over-year is expected to be up 2-4 percent from 2023.
“Thanks to the incredible work of our 100,000 people, Delta is delivering industry-leading operational performance and best-in-class service for our customers,” said Delta CEO Ed Bastian. “We delivered record June quarter revenue and pre-tax income of $2 billion with a 15 percent operating margin. Our people are the best in the industry, and we are pleased to recognize their efforts with more than $640 million accrued in the first half toward next year’s profit sharing.”
The airline celebrated several things in this second quarter, including being awarded the 2024 Airline of the Year award from Air Transport World and was named the best U.S. airline by The Points Guy for the sixth consecutive year. The airline was also the only airline to make Glassdoor’s Best Led Companies list.
Delta took delivery of 11 aircraft during the quarter, including new A321neo, A220-300 and A350-900 aircraft. It also announced a new partnership with Riyadh Air to become exclusive partners in future service between North America and Saudi Arabia.
The airline also partnered with the Best Defense Foundation to charter a flight for 48 World War II veterans heading to Normandy to commemorate the 80th anniversary of D-Day.
Source: Travel Pulse