Are Investors Underestimating Delta Air Lines?
The worldwide recovery in travel spending has been incredible. Credit card giant American Express saw spending across its travel and entertainment category grow by 39% year over year in the first quarter as people use their pandemic-era savings to buy plane tickets, hotel stays, and other experiences.
One American Express partner that is seeing a huge tailwind from this spending is Delta Air Lines (NYSE: DAL). The international airline is seeing revenue surge and profit margins expand as people spend money on long-distance flights this year. Shares of the stock are up 44% year to date to $47 but are still off significantly from their all-time high of around $60 set before the COVID-19 pandemic.
The Roaring '20s look to be in full swing, with consumers spending like mad on travel experiences. Does this mean investors are still underestimating Delta Air Lines? Let's take a look.
Source Fool.com
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