Delta reports record quarterly profits as US bounces back

Delta, whose Atlanta hub is the world’s busiest airport, made an adjusted pre-tax profit of $2.2 billion in the June quarter – a margin of 15.2%, far ahead of the industry average of around 5%. Operating revenue was also a record at $14.6 billion, up 19% year on year.

Ed Bastian, Delta’s chief executive, said the results meant staff would receive $667 million in profit sharing next year.

Delta predicted a 2023 profit margin of more than 12% with revenue up 17-20% for the full financial year.

A contributor to the bottom line has been the carrier’s largest ever transatlantic summer schedule, with more than 650 weekly flights to 32 destinations and a 20% increase in seat capacity versus summer 2022.