Delta Air Lines Inc. announced on Friday that its total operating revenue in the fourth quarter of the fiscal year 2023 observed an annual rise of 6% to hit $14.22 billion. On the other hand, its operating income declined by 10% compared to the same trimester in 2022 to land at $1.32 billion. However, the company's net income surged by 146% to reach $2.04 billion. Furthermore, its diluted earnings per share (EPS) soared by about 145% year-on-year to stand at $3.16 per share.
"In 2024, demand for air travel remains strong and our customer base is in a healthy financial position with travel a top priority. We expect to grow full year earnings to $6 to $7 per share and generate free cash flow of $3 to $4 billion, further strengthening our financial foundation," Chief Executive Officer Ed Bastian commented.
Following the release of the results, Delta's shares dropped by 4.99% in premarket trading, seemingly due to traders' discomfort about investing in air travel companies amid the technical issues The Boeing Company has been facing.
