Delta Airlines – a US-based airline, with footprints in 52 countries across the world, including Ghana, has reported a profit of US$1.4 billion, and declared US$6.25 earnings per share for its shareholders for the 2023 financial year.
The company also recorded an operating revenue of US$54.7 billion, which was 20 per cent higher than the full year 2022 adjusted revenue of US$45.6 billion.
The Full Year 2023 Financial Results of the company also showed an operating cash flow of $7.2 billion, Free cash flow of $2.0 billion, and operating income of $6.3 billion with an operating margin of 11.6 per cent.
Commenting on the financial result, Mr Ed Bastian, chief executive officer (CEO), Delta Airlines, said: ‘We are thrilled to recognize their outstanding work with $1.4 billion in profit sharing payments next month.’
‘Our people and their commitment to deliver unmatched service excellence for our customers is at the foundation of Delta’s success,’ he noted.
He stated that in 2024, demand for air travel would
remain strong, and pledged the company’s commitment to customers’ travel, a top priority.
‘We expect to grow full year earnings to US$6 to US$7 per share and generate free cash flow of US$3 to US$4 billion, further strengthening our financial foundation,’ Mr Bastian said.
‘With industry-leading operational performance and best-in-class service delivered by our people, more customers than ever are choosing Delta,’ Mr Glen Hauenstein, Delta’s President, said.
He stated that premium and non-ticket revenue has reached 55 per cent of total revenue, supporting Delta’s differentiated financial results from the industry.
‘With strong demand for international travel and a positive inflection in the domestic environment, we expect March quarter adjusted revenue to be 3 to 6 percent higher than the prior year,’ he said.
‘We closed the year strong, with full-year operating margin expanding by four points to 11.6 percent,’ said Mr Dan Janki, Delta’s Chief Financial Officer.
He added that: ‘In 2024 we are entering a
period of optimization and expect to unlock efficiencies that will fund continued investment in our people, our operation and our customers.’
Source: Ghana News Agency