Delta Air Lines earnings were great last quarter. The airline beat Wall Street expectations for earnings and revenues, with the former coming in at $37 million, the latter landing at a record $13.7 billion.
The biggest risks to investors worried about high S&P earnings multiples CC Share Subtitles Off
English view video The biggest risks to investors right now
A big part of that was business travel, which is coming back in a big way. Airlines make a lot of their money from corporate road warriors, who are more likely to splurge on premium features while they’re in the air.
“Managed corporate sales grew 14 percent year-over-year, led by the return of large corporate accounts, particularly in the Technology, Consumer Services and Financial Services sectors,” the company said in the release announcing the results. “Recent corporate survey results indicate that 90 percent of companies expect their travel volumes to increase or stay the same in the June quarter and beyond.”
Advertisement
Though lots of airlines have been complaining about the effect of Boeing’s 737 Max delays on their business, Delta doesn’t have any of the planes in its fleet and isn’t expecting to delivery of any until 2025 at the earliest according to its latest annual report.
Plus, it expects that “robust demand” from other kinds of flyers will drive another record next quarter. Delta shares were up 2% in early Wednesday trading.
This is a developing story and may be updated.
Delta Air Lines saw record revenues on business travel growth
- Advertisment - 
Recent Comments
on Army vs. Coastal Carolina live stream, how to watch online, CBS Sports Network channel finder, odds
on AL Rookie of the Year Julio Rodriguez Spreads Joy and Sportsmanship to the Youth of Loma de Cabrera
on After UFC Fallout, Conor McGregor Offers a Valuable Piece of Advice to Free Agent Francis Ngannou
on Dubai International Airport sees 41.6 million passengers in first half of year, more than in 2019
on Devout athletes find strength in their faith. But practicing it and elite sports can pose hurdles
on Despite strong Lunar New Year holiday data, consumer spending in China isn’t roaring back just yet
on Dave Portnoy: Taylor Swift’s security should ‘drag Kim Kardashian to jail’ if she attends Eras Tour
on CONCEPT ART: New Details Revealed for Disney Cruise Line Lookout Cay at Lighthouse Point Destination
on “Completely Knocked Me Out”: Rob Lowe Recalls Boxing Match With Tom Cruise On 1983 Brat Pack Classic
on CBS Sports, Serie A announce new TV rights deal; Paramount+ to air over 400 Italian soccer matches
on Cam Newton’s Violent Public Incident Draws Hilarious Reaction From 3x All-Star: “Where Do I Sign Up
on Boston College vs. Army live stream, how to watch online, CBS Sports Network channel finder, odds
on Angel Reese Launches Foundation Dedicated To Empowering Women Through Sports & Financial Literacy
on A weaker dollar, skyrocketing prices and ‘record’ visitor numbers: Good luck in Europe this summer