Thursday Feb 9, 2023
Thursday Feb 9, 2023

Delta loses $940 million in Q1, but bookings surge

2022 Apr 13, 17:43, Atlanta
A Delta Air Lines plane taxis down a runway, Saturday, March 14, 2020, at John F. Kennedy International Airport in New York. Federal officials are extending pandemic relief that helps big airlines keep coveted takeoff and landing rights for international flights during the summer of 2022 at busy airports in New York City and Washington, D.C. (AP Photo)

Delta Air Lines lost $940 million in the first quarter yet bookings surged in recent weeks, setting up a breakout summer as Americans try to put the pandemic behind them.

Shares jumped more than 6% before the opening bell Wednesday on strong revenue numbers.

The Atlanta airline still faces stiff headwinds, including a sharp rise in fuel and labor costs. And it is not clear whether spiking inflation will throttle travel spending.

On Tuesday, the U.S. reported that inflation in the past year rose at its fastest pace in more than four decades.

So far, though, neither inflation, the ongoing pandemic nor Russia’s war against Ukraine seem to be having any impact on ticket sales. Delta officials say that bookings started to rise in late February and have kept going.


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