Delta Air Lines announces June quarter 2024 results – Operating revenue of $16.7 billion
Delta Air Lines reported financial results for the June quarter and provided its outlook for the September quarter. Highlights of the June quarter, including both GAAP and adjusted metrics, are on page five of the full release and incorporated here.
“Thanks to the incredible work of our 100,000 people, Delta is delivering industry-leading operational performance and best-in-class service for our customers. We delivered record June quarter revenue and pre-tax income of $2 billion with a 15 percent operating margin. Our people are the best in the industry, and we are pleased to recognize their efforts with more than $640 million accrued in the first half toward next year’s profit sharing,” said Ed Bastian, Delta’s chief executive officer.
“For the September quarter, we expect a double-digit operating margin and a pre-tax profit of approximately $1.5 billion. With strong first half results and visibility into the second half, we remain confident in our full-year guidance.”
June Quarter 2024 GAAP Financial Results
- Operating revenue of $16.7 billion
- Operating income of $2.3 billion with an operating margin of 13.6 percent
- Pre-tax income of $1.8 billion with a pre-tax margin of 10.6 percent
- Earnings per share of $2.01
- Operating cash flow of $2.5 billion
- Payments on debt and finance lease obligations of $1.4 billion
- Total debt and finance lease obligations of $18.0 billion at quarter end
June Quarter 2024 Adjusted Financial Results
- Operating revenue of $15.4 billion, 5.4 percent higher than the June quarter 2023
- Operating income of $2.3 billion with an operating margin of 14.7 percent
- Pre-tax income of $2.0 billion with a pre-tax margin of 13.0 percent
- Earnings per share of $2.36
- Operating cash flow of $2.5 billion
- Free cash flow of $1.3 billion
- Adjusted debt to EBITDAR of 2.8x, down from 3.0x at the end of 2023
- Return on invested capital of 13.1 percent
Delta Air Lines’ largest-Ever Winter Latin Schedule
Also, Aruba Airport Authority N.V. (AAA) share the news of Delta Air Lines’ new routes and additional flight frequencies for the upcoming winter season, reinforcing its commitment to providing passengers with more travel options and convenience.
Delta Air Lines is expanding its winter schedule with significant additions from its hub at Minneapolis-St. Paul Airport (MSP). The airline will introduce direct flights once again to Aruba (AUA) starting December 20, 2024. These direct flights to Aruba will be operated on Fridays and Sundays from MSP. This marks the return of the MSP-AUA route, which was last operated in 2018 with a weekly Saturday flight. With the new schedule, Delta Air Lines will amp this up to two weekly flights from MSP, complementing the weekly flights offered on Saturday by Sun Country. In January and February, Sun Country will increase its frequency to three weekly flights (Saturday, Sunday, and Wednesday), resulting in a combined total of five weekly flights between MSP and AUA.
The winter schedule of Delta Air Lines for this year’s season will include daily flights out of New York (JFK) and will increase with one more flight per week as of January 11, 2025. The Atlanta (ATL) double daily operation will start on December 19, 2024. The daily Boston (BOS) flights will restart its winter service on December 19, 2024. and the 2 weekly flights on Fridays and Sundays out of MSP will start on December 20, 2024. This will result in an increased seat capacity from 95,705 and 521 flights during winter season 2023/2024 to 103,333 seats and 553 flights in the upcoming winter season. This impressive growth of 8% in seats and 6% in flights further marks the confidence of Delta Air Lines in Aruba as a destination within their worldwide network.
The new flights come at a good time to visit the island, with three new hotels scheduled to open by near the re-launch of the route:
- The highly anticipated St. Regis Palm Beach Resort welcomes its first guests in November. The luxury property will feature 220 luxurious rooms and 5-star amenities including top-class dining, spa, and pool offerings.
- Also slated to open by the end of this year is the JOIA Aruba by Iberostar. Located on Eagle Beach, this superior-category, majestic, elegant and luxurious property will boast extraordinary architectural features and spacious suites with high-quality amenities.
- The Secrets Resorts & Spas is scheduled to debut Secrets Baby Beach on the One happy island in the near future as well. The adults-only resort will be ideally located on the pristine Baby Beach just south of the Aruban culture hub of San Nicolas.
Jo-Anne Meaux Arends, Aviation Business Development Executive of Aruba Airport, expressed her enthusiasm for the renewed route: “The restart of the MSP route and the increase in flight frequencies confirms the high demand and the airline’s willingness to explore additional gateways during the busy winter season, particularly from those escaping the cold and seeking the warmth of our One Happy Island. The addition of this new MSP route with Delta Air Lines further amplifies and diversifies the North American market for Aruba, enhancing point to point connectivity and accessibility.”
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