Delta Air Lines lost $940 million in the first quarter, hurt by a rise in fuel prices, but bookings surged in recent weeks, setting up a breakout summer as Americans try to put the pandemic behind them.
A Delta Airlines aircraft taxi's, Thursday, Dec. 2, 2021, at Hartsfield-Jackson Atlanta International Airport, in Atlanta. Delta Air Lines lost $940 million in the first quarter, Wednesday, April 13, 2022, yet bookings surged in recent weeks, setting up a breakout summer as Americans try to put the pandemic behind them. While Delta's revenue is recovering, the Atlanta airline faces stiff headwinds from higher spending on fuel and labor.
On Tuesday, the U.S. reported that in the past year inflation rose at its fastest pace since 1981, led by soaring energy prices. Jet fuel is Delta's second-largest cost after labor. Bastian said he expects travel demand to remain strong for two to three months — about as far into the future as airlines care to venture.
And jet fuel, which cost Delta an average of $2.79 a gallon in the first quarter, is expected to jump to between $3.20 and $3.35. If Delta had paid the higher price in the first quarter, it would have spent an extra $364 million fueling up.From under 90,000 on some days in April 2020, now more than 2 million people a day on average board planes in the United States. So far in April, airport crowds are down only 9% from April 2019, according to government figures.
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