ATLANTA-BASED delta Air Lines swung to a US$363 million loss in the first quarter of 2023 amid surging costs and despite generating record revenues.
The loss improves on Delta's $940 million loss in the same period of 2022, but comes after Delta ended 2022 on a high, with a $1.3 billion profit, the Atlanta-based airline reports on April 13.
'We delivered record [first] quarter revenue, with total unit revenue that was 16 per cent higher than the same period in 2019,' said Delta president Glen Hauenstein. 'These results reflect the strength in the underlying demand environment and continued momentum in premium products and loyalty revenue.'
The airline expects its second-quarter revenue will increase 15-17 per cent year on year with capacity up 17 per cent.
In the first quarter, Delta generated $12.8 billion in operating revenue, up 36 per cent year on year. But its operating expenses surged 29 per cent in the period to $13 billion, with fuel expenses up 28 per cent.
Delta remains optimistic about the rest of 2023, predicting its full-year 2023 revenue will be 15-20 per cent greater than in 2022.
SeaNews Turkey
The loss improves on Delta's $940 million loss in the same period of 2022, but comes after Delta ended 2022 on a high, with a $1.3 billion profit, the Atlanta-based airline reports on April 13.
'We delivered record [first] quarter revenue, with total unit revenue that was 16 per cent higher than the same period in 2019,' said Delta president Glen Hauenstein. 'These results reflect the strength in the underlying demand environment and continued momentum in premium products and loyalty revenue.'
The airline expects its second-quarter revenue will increase 15-17 per cent year on year with capacity up 17 per cent.
In the first quarter, Delta generated $12.8 billion in operating revenue, up 36 per cent year on year. But its operating expenses surged 29 per cent in the period to $13 billion, with fuel expenses up 28 per cent.
Delta remains optimistic about the rest of 2023, predicting its full-year 2023 revenue will be 15-20 per cent greater than in 2022.
SeaNews Turkey
