Quarterly cargo revenues on the rise at Delta Air Lines
13 / 10 / 2021
Delta Air Lines saw cargo revenue increase in the third quarter of 2021 to $262m, a 39% improvement compared with the benchmark September quarter of pre-Covid 2019.
The US carrier said that cargo revenue continues to improve on yield strength, adding that the latest result represents the fourth consecutive quarter of growth compared to 2019 like-periods.
“Cargo strength relative to 2019 is expected to continue in the December quarter 2021 as constraints in global air cargo capacity during the peak holiday shipping period support continued yield strength,” stated Delta in its published results.
For the September quarter 2021, the Delta airline group recorded a GAAP pre-tax income of $1.5bn, pre-tax margin of 16.7% and earnings per diluted share of $1.89 on total revenue of $9.2bn
“Our September quarter marked an important milestone in our recovery, with our first quarterly profit since the start of the pandemic,” said Ed Bastian, Delta’s chief executive officer.
“Our revenues reached two-thirds of 2019 levels thanks to the industry-leading operational performance our people delivered through a busy summer, once again showing why they are the best in the business.”
“While demand continues to improve, the recent rise in fuel prices will pressure our ability to remain profitable for the December quarter.”