Delta Air Lines (DAL) has announced that its fourth quarter profit more than doubled from a year earlier as air travel in the U.S. returns to pre-pandemic levels.
The Atlanta-based carrier reported earnings per share (EPS) of $1.28 U.S. versus $1.17 U.S. that had been forecast on Wall Street.
Revenue in the last quarter of 2023 totaled $13.66 billion U.S. compared to $13.52 billion U.S. that had been expected among analysts.
Delta also reported $2.04 billion U.S. in net income for Q4 2023, more than double the $828 million U.S. it earned a year earlier.
Revenue in the latest quarter was up 6% from a year ago to $14.22 billion U.S.
The airline attributed the strong results to a continued rise in travel demand, particularly for international flights.
In a news release, the airline said it anticipates another strong year in 2024, forecasting earnings of between $6 U.S. and $7 U.S. a share, up from $6.25 U.S. a share for all of 2023.
The carrier also said that it expects revenue in the current first quarter of 2024 to increase 3% to 6% over the previous year.
Delta is the first of the major U.S. airlines to report fourth-quarter results.
The stock of Delta Air Lines has risen 7% over the last 12 months to trade at $42.26 U.S. per share.
