Delta expects a return to profit from consumer as travel demand reaches ‘record’ levels

According to a survey, the Atlanta-based company’s adjusted loss for the first quarter was $1.23 per share, compared to average analyst projections of $1.27 per share.

Travel demand has stormed back after a stumbling block caused by the Omicron coronavirus type, with several airlines reporting the biggest ticket sales in their history. According to Transportation Security Administration (TSA) data, passenger travel in the United States has been averaging around 89 percent of pre-pandemic levels since mid-February.

“The demand environment that we have today is at a historic high,” Chief Executive Officer Ed Bastian told Reuters in an interview. “The last five weeks have been the strongest period of bookings that Delta has ever seen in our history.”

According to the airline, not only helped it earn a “strong” profit in March, but it’s also helping it to offset rising fuel costs with higher fares.

Delta aims to produce an adjusted operating margin of 12% to 14% and “strong” free cash flow in the June quarter because it is “effectively recapturing” increased fuel price

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