4/13, 12:39 PM (Source: TeleTrader)
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Delta posts Q1 loss per share of $1.48

Delta Air Lines Inc. announced on Wednesday its first-quarter loss per share came to $1.48, while its total operating revenue stood at $9.3 billion, a drop of 11.4% compared to the same quarter in 2019, before the COVID-19 pandemic. Operating loss was reported at $783 million.

"With a strong rebound in demand as omicron faded, we returned to profitability in the month of March, producing a solid adjusted operating margin of almost 10 percent. As our brand preference and demand momentum grow, we are successfully recapturing higher fuel prices, driving our outlook for a 12 to 14 percent adjusted operating margin and strong free cash flow in the June quarter," said Delta CEO Ed Bastian. The company also forecasts capacity in the second quarter returning to 84% of pre-pandemic levels, with total revenue reaching 93% - 97% of that in the second quarter of 2019.

Delta's stock jumped 5.39% in premarket trade following the earnings release.

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