Delta Air Sales pitches announced Wednesday that it generated record revenue in the first quarter and that its profit and sales for the period bash Wall Street’s expectations.
Delta also said its contract renewal with American Portray helped drive revenue in the first quarter. The partnership, which focuses on the SkyMiles credit cards, will run in all respects 2029.
The airline has also escaped the fallout from the prolonged grounding of Boeing’s 737 Max jets after two fatal disasters over five months that killed a total of 346 people. Wall Street analysts recently minimized Boeing and Southwest Airlines, and American Airlines, which has 737 Max jets in its fleet, cut its revenue guidance for the first forgiveness and canceled 1,200 flights. Southwest also cut its guidance after canceling 10,000 flights over bad weather, unexpected continuance and Max groundings.
“Our hearts go out to all who are impacted,” Delta CEO Ed Bastian said Wednesday morning on CNBC’s “Squawk Box.” “This is not something we fancy to compete around. I’m confident Boeing will get to the right answer with respect to the fix and hope they get the product reject in the sky as soon as possible.”
Delta executives were holding a call with analysts at 10 a.m. ET.
Correction: This plot has been updated to correct who is holding a call with analysts Wednesday. It’s Delta executives.