Delta Air Lines has posted a record-breaking Q2 operating revenue of US$15.4 billion, roughly 5% higher than Q2 2023, but saw its net income decline by 29%. 

Despite the boost in operating revenue, the airline saw dips elsewhere in its financial results. Given rising operating expenses, the airline also noted an 8% change in costs from June 2023, with an adjusted net income of $1.5 billion, which dropped 11% YoY.

Ed Bastian, Delta’s Chief Executive Officer, said: “We delivered record June quarter revenue and pre-tax income of $2 billion with a 15% operating margin. Our people are the best in the industry, and we are pleased to recognise their efforts with more than $640 million accrued in the first half toward next year’s profit sharing.”

Its fleet continues to grow, with the airline taking delivery of 11 aircraft in Q2, bringing its total delivered so far to 18, including the A321neo, A220-300, and A350-300.

On the Q2 earnings analysts call transcript, reported by Reuters, Delta was optimistic about its aircraft deliveries over the next year. Bastian said: “We are confident in our Airbus delivery stream. We have no Boeing aircraft coming over the next handful of years.[…] I think it will take some time before Boeing gets their cadence back. I know they are slowly starting to improve, and we’ll see.”

From a regional perspective, domestic passenger traffic was reportedly up 5% YoY. The installation of Wi-Fi on its aircraft was also “making good progress”. While Delta confirmed there was a greater focus on its international fleet, which it hoped to conclude by the end of the summer, Bastian said that its remaining focus would then be spent on its regional fleet – mainly its Boeing 717s – over the next 12 to 18 months.

Delta Air Lines’ September Q3 outlook is optimistic. “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,” Bastian added.

Photo: Delta Air Lines