Delta Air Lines' Recovery Is Accelerating
Airlines got off to a shaky start in 2022, due to the omicron wave of the COVID-19 pandemic. However, demand has come roaring back since the middle of February, offsetting the impact of soaring fuel prices.
As a result, industry leader Delta Air Lines (NYSE: DAL) expects to post a big profit in the second quarter. Moreover, the airline giant remains on track to grow its earnings to record levels within a couple of years. Let's take a look.
Three months ago, Delta projected that first-quarter revenue would be down between 24% and 28%, compared to Q1 2019, on 15% to 17% less capacity. Ultimately, the carrier decreased capacity by 17%, but adjusted operating revenue reached $8.2 billion, down just 21% from three years earlier.
Source Fool.com
