A chaotic summer travel season and higher ticket prices have not dampened enthusiasm for flying, boosting airlines’ bottom lines as they rebuild their operations and focus on reliability ahead of the critical holiday travel season.
One sign of that continued enthusiasm came Thursday, when Delta Air Lines reported record sales for the third quarter, resulting in a $695 million profit. The carrier is operating fewer flights than in 2019, but strong demand has pushed ticket prices higher, boosting profitability.
The carrier’s optimism follows a bumpy few months for the industry, a period that attracted the attention of lawmakers and regulators amid a surge in flight delays and disruptions. The results are another milestone for airlines’ recovery in the third year of a pandemic that nearly grounded air travel and prompted tens of thousands of workers to leave the industry.Delta is the first carrier to report earnings, while others are scheduled to do so in the coming days.
Delta chief executive Ed Bastian said during an earnings call Thursday that consumers may be cutting back in some areas of their lives, but he sees no signs that the two-plus years of pent-up demand that filled airports over the summer is waning.Another sign of continued demand: the number of passengers screened by Transportation Security Administration officers at the nation’s airports on many days this year continues to surpass the number screened in 2021.
Earlier this week, Delta announced it would invest $60 million in Joby Aviation, a maker of all-electric vertical takeoff and landing aircraft . The airline said it eventually hopes customers will use Joby’s battery-powered air taxis to fly rather than drive to the airport. United Airlines, which will report earnings next week, announced in recent days that it plans to add new service to three cities next summer: Malaga, Spain; Stockholm and Dubai. It also will begin new service between Dulles International Airport and Berlin starting in May, while expanding service to European destinations it already serves, including Rome, Paris, Barcelona, London, Berlin and Shannon, Ireland.
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