Delta Air Lines Earnings: Signs of Progress After Another Weak Quarter
On Thursday, Delta Air Lines (NYSE: DAL) reported another ugly loss, as the COVID-19 pandemic continued to wreak havoc on the U.S. airline industry last quarter. In fact, following two quarters of sequential improvement in the airline's profitability, Delta posted its biggest adjusted pre-tax loss since the second quarter of 2020.
Yet while Delta's results for the full quarter were nothing to write home about, business trends improved dramatically in March. Barring any new setbacks, that points to much better financial results during the remainder of the year.
Delta's revenue plummeted toward the end of the first quarter last year, as the spread of the COVID-19 pandemic caused air travel demand to dry up. At the peak of the crisis -- the second quarter of 2020 -- adjusted revenue fell 90% year over year to just $1.2 billion, causing the full-service airline to book a $3.9 billion adjusted pre-tax loss.
Source Fool.com
