Not affected by MAX: Delta reveals “best in history” Q2 results
Delta Air Lines presented the second quarter of 2019 financial results, calling them “record”. The airline achieved a net income growth of 23.6%, reaching $1.5 billion during the period.
In Q2 2019, Delta Air Lines achieved a new quarterly “record” as its total adjusted revenue grew by approximately $1 billion, reaching $12.5 billion (excluding refinery sales). Passenger revenue contributed by $11.3 billion, which signifies an 8% increase when compared to corresponding period in 2018.
Domestic passenger market remains the most profitable one ($8 billion) for the airline, followed by Atantic ($1.8 billion), Latin America and Pacific. Meanwhile, cargo revenue fell by 16.7% to $186 million.
"With record passenger loads, customer satisfaction and $1 billion in revenue growth for the June quarter, demand for Delta's customer-focused product and service has never been stronger. Our third quarter is off to a great start with a new highest revenue day on record on July 7th," Glen Hauenstein, Delta's president is quoted in a statement as saying. "We now expect revenue growth of six to seven percent for the year, a $3 billion increase over 2018, as we benefit from our multi-year pipeline of fleet, product, and loyalty initiatives."
While other U.S. legacy carriers are counting the financial effect of Boeing 737 MAX grounding, Delta is not unaffected by this situation, as it does not operate the type. However, the airline’s CEO and Chairman Ed Bastian says the grounding of competitors’ MAX had little effect on Delta's positive results. “[On MAX grounding:] clearly, there was a benefit for the airline in the quarter,” Bastian told CNBC. “I don’t think there was a significant benefit. Certainly, it’s not explaining the results we’re seeing”.
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