Summer Travel is in Full Swing, Delta Reports Record Bookings

Delta Airlines reported its quarterly earnings on Thursday and expects summer travel to hit record highs this year. This is further indication that airlines are bouncing back after the pandemic.

According to CEO, Ed Bastain, customers are highly interested in summer travel. “Air travel is something the consumer’s prioritizing,” he said. “They may be pulling back in other areas … but I don’t see it in our credit card data, I don’t see it in our bookings.”

Despite the record-breaking summer ahead, CNN reported, “rising labor costs did result in a net loss in the period, even if the company reported a profit when excluding special items, the measure most closely followed by investors.” 

Delta reportedly reached a deal with pilots that will increase their pay 34% over the life of a four-year contract and an increased signing bonus resulting in a net loss of $363 million for the quarter, per CNN. The airline also gave 5% raises to a number of other employees starting on April 1.