Delta Air Lines Rebuilds Fleet Modernization Plans
Prior to the COVID-19 pandemic, Delta Air Lines (NYSE: DAL) planned to modernize its fleet at an aggressive pace in the early 2020s. However, the pandemic forced management to dial those plans back dramatically to reduce capital expenditures (capex) while matching the fleet size to demand.
By contrast, Delta's recently released 2021 annual report highlighted how the full-service airline is ramping up its fleet upgrade plans again. Let's take a look.
As of the end of 2019, Delta planned to take delivery of 66 new mainline jets annually in 2020, 2021, and 2022. It expected to spend over $10 billion on aircraft purchases over that three-year period. Including non-aircraft spending, that would have put annual capex well above $4 billion.
Source Fool.com
