Delta Sees $1.11 Billion Profit , Ahead of Strong Holiday Bookings.
ABC reports that Delta Air Lines gained $1.11 billion in profits as summer travelers packed planes in the third quarter.
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On October 12, the carrier said it expects revenue to continue rising through the upcoming holiday season.
Despite higher labor costs, Delta saw profits increase by 59% from 2022 with strong ticket sales, including for premium seats and international flights.
ABC reports that the Atlanta-based company predicts fourth quarter and 2023 overall profits to mostly exceed Wall Street forecasts.
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I think we’re closing the year strong, and the holiday bookings that we see right now are pretty good.
Domestic (travel) is solid, and international is really strong, Ed Bastian, Delta Air Lines CEO, via ABC.
In the third quarter, travelers flew approximately 64 billion miles on Delta flights, a 17% increase for the carrier.
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ABC reports that Delta's revenue from main cabin ticket sales increased 12% and 17% for premium seating.
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Over the same period, revenue from the carrier's SkyMiles loyalty program jumped 21%.
According to a FactSet survey, Delta's third quarter profit of $2.03 per share was 8 cents higher than analyst forecasts.
The carrier's revenue, which grew 11% to reach $15.49 billion, also exceeded analysts' expectations.
