Delta reaches record full-year revenue and surpasses 5 billion pre-tax income in 2023

Delta Air Lines announced its financial results for the December quarter and the full year of 2023. The airline witnessed a record full-year revenue and a pre-tax income surpassing $5 billion, almost doubling its 2022 figures. Delta projects a 2024 free cash flow of $3 to $4 billion, marking a substantial increase over 2023.

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Delta CEO Ed Bastian credited 2023’s success to the airline’s industry-leading operational performance and its team’s commitment to service excellence. Looking forward, Delta anticipates robust demand for air travel, expecting record revenues in the March quarter of 2024 driven by a thriving domestic market and strong international demand.

The airline’s GAAP and adjusted financial metrics for the December quarter and the full year 2023 show significant gains. Delta anticipates earnings growth in 2024, with earnings per share expected to be between $6 and $7. The company’s continued financial stability is evident in its reduced debt levels and increased return on invested capital.

Fleet Expansion and Modernization Plans

Delta continues its journey to expand and modernize its fleet. The airline has announced plans to introduce newer, more fuel-efficient aircraft models, starting with the procurement of twenty A350-1000s. Scheduled for delivery beginning in 2026, these aircraft are expected to enhance Delta’s long-haul capabilities with increased premium seating and greater cargo capacity.

Additionally, Delta is set to further bolster its fleet with the inclusion of more A321neo, A220-300, and A330-900 aircraft. These acquisitions, aimed at phasing out older, less efficient models, underscore Delta’s strategic initiative towards reducing its carbon footprint while maintaining operational prowess.

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As a consequence of the financial results, the carrier decided to invest $1.4 billion in profit-sharing payments to its employees.