{"id":1971651,"date":"2023-07-13T07:58:02","date_gmt":"2023-07-13T11:58:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/delta-forecasts-stronger-earnings-on-post-pandemic-travel-boom\/"},"modified":"2023-07-13T08:00:19","modified_gmt":"2023-07-13T12:00:19","slug":"delta-forecasts-stronger-earnings-on-post-pandemic-travel-boom","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/delta-forecasts-stronger-earnings-on-post-pandemic-travel-boom\/","title":{"rendered":"Delta expects higher profits due to increased travel after the pandemic."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdelta-forecasts-stronger-earnings-on-post-pandemic-travel-boom%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1971651&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By Rajesh Kumar Singh<\/p>\n<p>CHICAGO (Reuters) \u2013     Delta Air Lines on Thursday lifted its full-year profit outlook after its second-quarter earnings topped Wall Street estimates on a relentless post-pandemic travel boom.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>In an interview, CEO Ed Bastian said while bookings are expected to follow a seasonal pattern after the Labor Day holiday in September when kids returns to school, overall demand remains \u201cquite strong.\u201d<\/p>\n<p>\u201cYou\u2019re going to see continued strong international growth everywhere,\u201d he said. \u201cThe domestic environment is going to be quite resilient as well.\u201d<\/p>\n<p>Delta now expects adjusted earnings of $6-$7 per share this year, compared with its previous forecast of $5-$6 per share. <\/p>\n<p>It reported an adjusted profit of $2.68 per share for the second quarter, above the $2.40 per share expected by analysts in a Refinitiv survey.<\/p>\n<p>In the quarter through September, the company estimates earnings in the range of $2.20-$2.50 per share. That\u2019s higher than the $2.07 expected by Wall Street analysts. Revenue in the quarter is estimated to be up between 11% and 14% from a year ago.<\/p>\n<p>Delta expects non-fuel costs to decline by 1% to 3% in the third quarter from a year ago.<\/p>\n<p>The urge to travel has sent bookings at U.S. carriers soaring. But with higher borrowing costs and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/delta-forecasts-stronger-earnings-on-post-pandemic-travel-boom\/\" title=\"Delta expects higher profits due to increased travel after the pandemic.\">high inflation stretching household budgets<\/a>, questions linger about the sustainability of consumer spending.<\/p>\n<p>U.S. inflation data on Wednesday fueled those concerns as airline fares posted a third straight monthly decline. Year-over-year, fares dropped at their fastest pace since February 2021.<\/p>\n<p>Bastian suggested not to read too much into the data as it compared to a period of time last year when consumers had just started to travel again after the pandemic and the supply was limited, leading to a surge in ticket prices.<\/p>\n<p>\u201cCrazy\u201d increases in ticket prices at that time were not \u201csustainable,\u201d he said. With increased supply, Bastian said fares now have \u201cnormalized.\u201d <\/p>\n<p>Delta\u2019s earnings report shows airlines are still enjoying pricing power. Delta\u2019s total revenue per seat mile (TRASM), a proxy for pricing power, was up 1% in the second quarter from a year ago despite a 17% jump in capacity.<\/p>\n<p>Bastian said a high statistical base may impact the company\u2019s TRASM in the second half of the year, but it is expected to stay \u201cquite strong.\u201d<\/p>\n<p>Delta\u2019s air traffic liability, reflecting future bookings, at the end of the April-June quarter was $10.4 billion, up $500 million from a year ago.<\/p>\n<p>Carriers typically rely on big-spending corporate customers to fill high-margin seats after the summer travel season, but recovery in corporate travel remains sluggish.<\/p>\n<p>Bastian said even though people are not traveling a lot for work, hybrid work arrangements have led to a 50% jump in personal trips versus the pre-pandemic period.<\/p>\n<p>\u201cPeople are traveling for more reasons than just work at an accelerated pace,\u201d he said.   <\/p>\n<\/p>\n<p> (Reporting by Rajesh Kumar Singh; Editing by Leslie Adler)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/delta-forecasts-stronger-earnings\/attachment\/file-photo-delta-air-lines-passenger-planes-crowd-a-runway\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Pastor Todd Callahan and Sean Feucht<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Landon Starbuck<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Jake Lang<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Brian Babin<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) -Britain\u2019s antitrust regulator on Thursday announced an in-depth probe of Adobe\u2019s $20 billion bid for cloud-based designer platform Figma, after the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Josh Ye HONG KONG (Reuters) -China issued interim measures on Thursday to manage its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-announces-in-depth-probe-of-adobes-20-billion-figma-deal\/\" title=\"UK to investigate Adobe's B Figma deal thoroughly.\">booming generative artificial intelligence<\/a> (AI) industry, saying\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SHENZHEN, China (Reuters) \u2013 Chinese tech giant Huawei Technologies received $560 million in royalty revenues in 2022, Alan Fan, its head of\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BERLIN (Reuters) \u2013 German auto supplier Bosch will invest almost 2.5 billion euros ($2.8 billion) in hydrogen fuel cell technology from 2021\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Delta Air Lines raised its annual profit forecast as its Q2 earnings exceeded expectations due to a strong rebound in travel post-pandemic. CEO Ed Bastian mentioned that bookings are anticipated to follow a typical seasonal trend after the Labor Day holiday in September.<\/p>\n","protected":false},"author":66,"featured_media":1971652,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1971651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1971651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1971651"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1971651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1971652"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1971651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1971651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1971651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}