Delta Air Lines has reported financial results for the June quarter and provided its outlook for the September quarter 2023.

“Thanks to the incredible work of our entire team, Delta is delivering for our customers by providing strong operational performance and best in class service during this busy summer period. With this performance, we generated record revenue and profitability in the June quarter. Our people are the best professionals in the industry, and I’m proud to recognise their achievements with $667 million in the first half toward next year’s profit sharing payment,” said Ed Bastian, Delta’s chief executive officer.

Delta demand rebounds

“Consumer demand for air travel remains robust. Against this constructive backdrop, we are increasing our 2023 earnings guidance to $6 to $7 per share and reiterating our recently updated outlook for $3 billion of free cash flow.”

June Quarter 2023 GAAP Financial Results

• Record operating revenue of $15.6 billion
  Record operating income of $2.5 billion with an operating margin of 16.0 percent
  Pre-tax income of $2.3 billion with a pre-tax margin of 14.9 percent
  Earnings per share of $2.84
  Operating cash flow of $2.6 billion
  Payments on debt and finance lease obligations of $1.8 billion
  Total debt and finance lease obligations of $20.2 billion at quarter end

June Quarter 2023 Adjusted Financial Results

• Record operating revenue of $14.6 billion, 19 percent higher than the June quarter 2022
  Record operating income of $2.5 billion with an operating margin of 17.1 percent
  Pre-tax income of $2.2 billion with a pre-tax margin of 15.2 percent
  Earnings per share of $2.68
  Operating cash flow of $2.6 billion
  Free cash flow of $1.1 billion
  Adjusted net debt of $19.8 billion at quarter end

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