Travel is booming, and Delta Air Lines boosted ticket prices. That helped the company weather higher fuel costs in the first quarter, and Delta believes it can turn a profit in the second quarter.
The company reported an adjusted net loss of $784 million in the first quarter, which was about $50 million less than Wall Street analysts had expected. Its revenue of $9.3 billion came in about $400 million higher than forecasts. The company said it was profitable in March.Demand for travel is so strong right now that CEO Ed Bastian told CNBC that March was Delta's best month ever for bookings — both for flights in March itself and for upcoming travel.
Delta is doing what it can to increase capacity, Bastian said, including hiring the additional employees it needs to restore more flights to its schedule. But the 15,000 new employees the company has hired since the start of 2021 is still not enough to make up for the loss of staff during the pandemic, when Delta offered early retirement and buyout packages to reduce headcount.
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