Second quarter sees Delta’s revenue reach unprecedented heights

July 13 (UPI) — Delta Airlines reported record-breaking quarterly earnings, demonstrating its exceptional performance in recent times.

The airline attributes a substantial 22% drop in fuel costs as a significant factor in its success.

Additionally, Delta experienced remarkable sales growth for business and first-class tickets on its international routes. With an extensive network of 325 destinations across 52 countries, spanning six continents, the airline operates over 5,400 flights daily.

Delta surpassed earnings projections, achieving $1.72 billion in income as opposed to the expected $1.54 billion. Furthermore, the company’s revenue reached $14.6 billion, surpassing analysts’ predictions of $14.4 billion.

The airline also revised its earnings per share outlook, raising it to between $6 and $7 per share, up from the previously projected $5 to $6 per share in June.

In an interview with Yahoo Finance, Delta’s CEO Ed Bastian expressed his optimism about the future, stating, “What we see in our bookings is consistent with what we have observed throughout the year. Our international bookings and demand are exceptionally strong, indicating a very robust Q3. We anticipate a strong Q4 as well.”

Bastian emphasized that international travel is currently experiencing the highest demand ever seen. Additionally, domestic flights for Delta continue to perform well.

Delta witnessed an impressive 18% year-over-year growth in main cabin passenger revenue, while premium ticket revenue rose by 25%.

Looking ahead, Bastian anticipates continued growth for the airline. He explained, “Considering the shift in our economy from goods to services and the subsequent recovery of the service sector, we believe this trend will persist for several years. Furthermore, our economy has grown by over 20% since 2019, contributing to our substantial gains.”

In pre-market trading, Delta’s stock rose on the New York Stock Exchange. However, it experienced a decline after the opening bell, decreasing by $0.32 or 0.67% to $47.63 at 10:33 a.m. EDT.