Delta Air Lines has reported a third quarter 2024 net profit of $1.27 billion or $1.97 per share on a 1.0 percent year-over-year increase in revenue to $15.7 billion.
On Thursday (September 10, 2024), Delta Air Lines announced their third quarter financial results for the period ending September 30, 2024. The carrier reported a third quarter net profit of $1.27 billion or $1.97 per share on a 1.0 percent year-over-year increase in revenue to $15.7 billion. Delta’s Q3 revenue per available seat mile (TRASM) declined 3.0 percent to 20.58 cents, while cost per available seat mile, while (CASM) increased 2.0 percent versus the same period last year to 18.75 cents. Adjusted Costs excluding fuel (Adjusted CASM-ex) increased 5.7 percent compared to Q3 2023 to 13.30 cents.
In Thursday’s announcement, Delta Air Lines’ CEO, Ed Bastian, said,
“Thanks to the exceptional work of the entire Delta team, we continue to lead the industry operationally and financially, with a double-digit operating margin and nearly $3 billion of free cash flow generation year-to-date. In recognition of the outstanding efforts of our employees this year, we have accrued almost $1 billion of profit sharing towards the upcoming February payout.
“With an improving industry backdrop and strong demand for travel on Delta, we are positioned to finish the year strong. We expect our December quarter pre-tax profit to grow 30% over last year to $1.4 billion, which would mark one of the most profitable fourth quarters in our history.”
During the third quarter, Delta took delivery of nine new aircraft, including A321neo, A330-900 and A350-900 aircraft. The carrier also announced their 2025 summer Transatlantic schedule with over 700 weekly flights to 33 destinations, including seven new routes. Delta also signed a new codeshare with SAS and Saudia Airlines during the period, and announced first-ever nonstop service between Salt Lake City (SLC) and Seoul Incheon starting next summer.
Source: Delta Air Lines
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