The airline industry, which cratered during the COVID-19 pandemic, has recovered. That recovery hit a record level recently; airlines have been the beneficiaries. This is particularly true of Delta (NYSE: DAL).
The TSA said that on Friday, it screened the most people in its history: 2,951,163 at checkpoints nationwide. “If you flew yesterday, congratulations, you were part of a record-setting day,” TSA public affairs spokesperson Lisa Farbstein said on X. “@TSA officers screened more people at airport security checkpoints nationwide yesterday (May 24th) than any other day in our 22-year history.”
Airlines have had to contend with layoffs during the pandemic, planes that were out of service, and a jump in fuel prices in the summer of 2022. Delta’s stock, which trades at $53 now, fell to $17 in June 2020. In the last year, it has soared 29%, while the S&P 500 is up 11%
In its most recently announced quarter, revenue rose 8% to $13.7 billion. Net income hit $37 million compared to a $363 million loss in the same period the year before.
The summer has just started. It is the period when airlines continue to post strong results. And they haven’t hit the 4th of July or Labor Day yet.
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