In the next three months, Delta Airlines predicted that they will be expecting passenger capacity to be down 28 to 30 per cent while the revenue will be off 30 to 35 per cent when compared to 2019 in the same period.
As the year slowly goes by, Delta Air Lines was finally reported to have made a $652 million profit for the three months to June. The Atlanta-based airline made a profit of $652 million to cut off a five-quarter streak of losses due to federal coronavirus aid that cancelled out some of its costs. They are expected to make another profit for the second half of the year without the support from the government aid, and best usa online casino is aware of this.
The figure was also reported to have been buoyed by $1.5 billion in government benefits which is related to the first and second payroll support program extensions.
For the quarter, they reported the revenue at $6.3 billion, which is down 49 per cent when compared to the same period in 2019. The airline was able to generate $1.9 billion of operating cash flow, with $1.5 billion of free cash flow and $195 million of free cash flow for the June quarter.
Speaking to the media, Delta Chief Executive, Ed Bastian said: “With the best employees and operation in the industry and an accelerating demand environment, we achieved significant milestones in the quarter including a solid pre-tax profit in the month of June.
“Looking forward, we are harnessing the power of our differentiated brand and resilient competitive advantages to drive towards sustainable profitability in the second half of 2021 and enable long-term value creation.” He continued: “Domestic leisure travel is fully recovered to 2019 levels and there are encouraging signs of improvement in business and international travel. With the recovery picking up steam, we are making investments to support our industry-leading operation. We are also opportunistically acquiring aircraft and creating upside flexibility to accelerate our capacity restoration in 2022 and beyond in a capital-disciplined manner.”
In the next three months, Delta Airlines predicted that they will be expecting passenger capacity to be down 28 to 30 per cent while the revenue will be off 30 to 35 per cent when compared to 2019 in the same period.
During the earnings release, Bastian added via online casinos real money: “Looking forward, we are harnessing the power of our differentiated brand and resilient competitive advantages to drive towards sustainable profitability in the second half of 2021 and enable long-term value creation.”
Delta confirmed that the carrier hasn't witnessed any impact at all on bookings from the delta variant of Covid-19. At the end of the quarter, it had $17.8 billion in liquidity and total debt and lease obligations of $29.1 billion.
Delta has its shares fell 1.6% to close Wednesday at $40.68.
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