Ask ZiVA 728x90 Ads aiteo  

Delta Targets 20% Revenue Growth In 2023

Delta Airlines
THEWILL APP ADS 2

January 16, (THEWILL) – Chief Executive Officer of Delta Air Lines, Ed Bastian, has stated that the airline is expect to grow 2023 revenue by 15 to 20 percent and improve unit costs year-over-year, supporting a full-year outlook for earnings of $5 to $ 6 per share.

Bastian was speaking while analysing the trend in a document, where Delta reported its financial results for the December quarter and full year of 2022.

Delta had last week, reported financial results for the December quarter and full year of 2022 and providing its outlook for the March quarter of 2023.

Highlights of the December quarter and full-year 2022 results including both GAAP and adjusted metrics were also highlighted.

Commenting, Bastian said: “Delta people rose to the challenges of 2022, delivering industry-leading operational reliability and financial performance, and I’m looking forward to recognising their achievements with over $500 million in profit-sharing payments next month.

“As we move into 2023, the industry backdrop for air travel remains favourable and Delta is well positioned to deliver significant earnings and free cash flow growth. We expect to grow 2023 revenue by 15 to 20 percent and improve unit costs year-over-year, supporting a full-year outlook for earnings of $5 to $ 6 per share and keeping us on track to achieve more than $7 of earnings per share in 2024.”

In addition, the carrier puts an operating revenue of $13.4 billion, an operating income of $1.5 billion an operating margin of 10.9 percent

It made a pre-tax income of $1.1 billion with a pre-tax margin of 8.3 percent, earnings per share of $1.29 operating cash flow of $1.2 billion, and payments on debt and finance lease obligations of $285 million.

Also commenting, Delta’s President, Glen Hauenstein, said: “Industry-leading operations and the best-in-class service our people provided drove strong customer satisfaction scores and increasing brand preference in 2022.

“For the year we delivered $45.6 billion in adjusted revenue, a $19 billion increase over the prior year, with record unit revenue performance expected to sustain a revenue premium to the industry of more than 110 percent. Momentum continues in 2023 with strong demand trends, and we expect March quarter adjusted revenue to be 14 to 17 percent higher than 2019 on the capacity that is 1 percent lower”, Hauenstein added.