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Why did Delta raise its 2019 profit outlook?

Why did Delta raise its 2019 profit outlook?
Asked by
Dan Smith categorie-icon time-icon3 months ago
1 Answer Answer Question

Sam Rondon
Answered time-icon3 months ago

Shares of Delta Air Lines (NYSE: DAL) climbed today after the American airline raised its profit guidance for the year thanks to increasing travel demand. Delta’s Chief Executive Ed Bastian said the extension of the Boeing 737 Max probe also had a positive impact on his company.

The airline estimates earnings between $6.75-$7.25 per share this year, higher than the previous forecast of $6 to $7 a share.

Delta’s shares advanced more than 2% following the quarterly report.

“We do not fly the Max and clearly there was a benefit to the airline in the quarter,” said the company’s CEO Ed Bastian. “It’s taken longer than any of us expected to see it return to service. We don’t have a crystal ball on that.”

According to the report, Delta’s Q2 profit is 30% higher than a year ago, beating the consensus estimates as the travel demand continues to rise.

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