Delta reported another quarterly loss Wednesday but said that it returned to profitability in June and expects to be profitable going forward.
���Domestic leisure travel is fully recovered to 2019 levels and there are encouraging signs of improvement in business and international travel," said CEO Ed Bastian, who added that this week it bought additional used aircraft to restore some of the capacity it shed during the pandemic.
"The recovery picking up steam, we are making investments to support our industry-leading operation," he said.
The company lost $678 million when adjusted for special items such as another round of financial support from US government. But that's far better than the loss of nearly $900 million expected by Wall Street, let alone the $2.8 billion loss it reported a year ago.
Revenue has not fully recovered to pre-pandemic level due mostly to the lucrative business and international travel still being only a fraction of pre-pandemic levels. Overall revenue from airline operations was down 49% compared to the same quarter of 2019, ahead of the pandemic.