Delta Air Lines Posts Record High Quarterly Revenue – Airways | Airlines

DALLAS – Delta Air Lines (DL) today announced its June quarter financials. Highlights include recording the highest quarterly revenue in the company’s history, strong operating cash flow that allowed early payment on US$1 billion in debt, and the raising of full-year earnings per share to between US$6 and US$7 with a free cash flow guide of US$3 billion.

Delta also expects record September quarter revenue and earnings per share of US$2.20 to US$2.50 for that period. The June quarter 2023 Adjusted Financial results are:

• Record operating revenue of US$14.6 billion, 19 percent higher than the June quarter of 2022
• Record operating income of US$2.5 billion with an operating margin of 17.1 percent
• Pre-tax income of US$2.2 billion with a pre-tax margin of 15.2 percent
• Earnings per share of US$2.68
• Operating cash flow of US$2.6 billion
• Free cash flow of US$1.1 billion
• Adjusted net debt of US$19.8 billion at quarter end

Strong International Travel

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In the June quarter, DL international passenger revenue was 61% higher year over with record profitability. The airline says that transatlantic travel was led by consumer demand to Southern European destinations.

Also, transpacific travel increased due to the reopening of Japan and the “performance of the Korean Air joint venture. Latin American revenue remained strong driven by demand for travel to South America and the Caribbean. Delta says the integration of the LATAM joint venture is progressing well.

US domestic revenue was up 8% year over year with a similar increase in capacity. Corporate revenue grew and the airline notes that 93% of companies expect their travel to increase or remain the same through the September quarter.

Delta’s Premium and Loyalty revenue growth continued to outpace main cabin revenue with a…

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