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Delta Air Lines has announced its financial results for the September quarter of 2024 and shared projections for the upcoming December quarter. The airline reported significant operational and financial achievements so far this year, including an anticipated record revenue and an operating margin between 11% to 13% for the December quarter. Delta's Return on Invested Capital surpassed its cost of capital by five points, leading to an upgrade in its credit rating by Fitch.
Ed Bastian, Delta's Chief Executive Officer, credited the entire team for maintaining industry leadership both operationally and financially. "Thanks to the exceptional work of the entire Delta team, we continue to lead the industry operationally and financially, with a double-digit operating margin and nearly $3 billion of free cash flow generation year-to-date. In recognition of the outstanding efforts of our employees this year, we have accrued almost $1 billion of profit sharing towards the upcoming February payout," he stated.
Looking ahead, Bastian expressed optimism about finishing the year on a strong note due to favorable industry conditions and robust travel demand. "With an improving industry backdrop and strong demand for travel on Delta, we are positioned to finish the year strong. We expect our December quarter pre-tax profit to grow 30% over last year to $1.4 billion, which would mark one of the most profitable fourth quarters in our history."
