Delta Air Lines reported a significant improvement in financial performance for the first quarter of 2024, with operating income rising to $614 million, a substantial increase from the $277 million loss in the same period of 2023. The airline's operating revenue climbed to $13.748 billion, marking an 8% increase year-on-year, driven by a 7% rise in capacity and robust travel demand, especially for premium products. Net income also saw a turnaround, with the company posting a profit of $37 million compared to a loss of $363 million in the previous year. Basic and diluted earnings per share were both $0.06, recovering from a loss of $0.57 per share in Q1 2023. The refinery segment, while contributing $2.049 billion in operating revenue, experienced a decrease in operating income to $49 million from $222 million...Show More

Delta Air Lines reported a significant improvement in financial performance for the first quarter of 2024, with operating income rising to $614 million, a substantial increase from the $277 million loss in the same period of 2023. The airline's operating revenue climbed to $13.748 billion, marking an 8% increase year-on-year, driven by a 7% rise in capacity and robust travel demand, especially for premium products. Net income also saw a turnaround, with the company posting a profit of $37 million compared to a loss of $363 million in the previous year. Basic and diluted earnings per share were both $0.06, recovering from a loss of $0.57 per share in Q1 2023. The refinery segment, while contributing $2.049 billion in operating revenue, experienced a decrease in operating income to $49 million from $222 million year-on-year, attributed to lower pricing. Delta's business development was marked by increased travel demand across all regions, with a notable 10% growth in ticket sales for premium products. The company's loyalty program and partnerships, particularly with American Express, continued to perform well. Looking ahead, Delta is focused on rebuilding its Latin and Pacific networks, enhancing its fleet, and investing in technology. The airline anticipates volatility in jet fuel prices but expects to manage this through operational efficiency and its refinery operations. Capital expenditures for the quarter amounted to $1.193 billion, with ongoing investments in fleet and technology enhancements. Delta's liquidity remains strong, with $7.4 billion in cash, cash equivalents, and short-term investments, and the company is committed to reducing debt while maintaining operational growth.