Delta Air Lines returns to profit in second quarter

Delta Air Lines has reported a $652 million revenue for the three months to June.

The determine was buoyed by $1.5 billion in authorities advantages associated to the primary and second payroll help program extensions.

Revenue for the quarter stood at $6.3 billion, down 49 per cent from the identical interval in 2019.

The airline generated $1.9 billion of working money movement, $1.5 billion of free money movement and $195 million of free money movement within the June quarter.

“With the best employees and operation in the industry and an accelerating demand environment, we achieved significant milestones in the quarter including a solid pre-tax profit in the month of June,” mentioned Ed Bastian, Delta chief govt.

“Looking forward, we are harnessing the power of our differentiated brand and resilient competitive advantages to drive towards sustainable profitability in the second half of 2021 and enable long-term value creation.”

He added: “Domestic leisure journey is absolutely recovered to 2019 ranges and there are encouraging indicators of enchancment in enterprise and worldwide journey. 

“With the restoration selecting up steam, we’re making investments to help our industry-leading operation. 

“We are also opportunistically acquiring aircraft and creating upside flexibility to accelerate our capacity restoration in 2022 and beyond in a capital-disciplined manner.”

Over the following three months, Delta mentioned it expects passenger capability can be down 28 to 30 per cent and income off 30 to 35 per cent, in contrast with the identical interval in 2019.

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