Delta Air Lines posted a full-year 2023 profit of $4.6 billion on revenue 20% higher year on year, and reports a strong profit for the fourth quarter.
The SkyTeam carrier, the biggest in the world by revenue and the first major airline to report full-year 2023 financials, generated revenue last year of $54.7 billion on an adjusted basis, excluding one-off items.
Its full-year adjusted pre-tax profit climbed to $5.2 billion in 2023 from $2.7 billion in 2022, while Delta’s net profit more than trebled in one year, from $1.3 billion in 2022 to $4.6 billion last year.
The full-year performance included a fourth quarter adjusted pre-tax profit of $1.1 billion.
Looking ahead, Delta Air Lines chief executive Ed Bastian says: “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.”
While the earnings per share guidance is in line with Delta’s performance last year of $6.25, it is below a longer-term target of over $7 per share for 2024 outlined at an investor day in December 2022.
