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Delta Air Lines rode strong consumer travel demand to banner earnings last quarter, benefiting from the company's lack of exposure to Boeing's grounded 737 MAX planes.
In earnings posted Thursday, the US carrier pointed to a double-digit revenue boost in premium product tickets off of strong demand in leisure and corporate customers as it lifted its full-year profit forecast.
Demand - Product - Business - Executive - Ed
"Fundamental demand for the product in this business is very strong and we're capitalizing on it," chief executive Ed Bastian said on a conference call with analysts and reporters.
Shares rose on the results in which Delta also lifted its profit forecast and boosted its dividend.
Earnings - Quarter - Percent - Period
Net earnings in the second quarter were $1.4 billion, up 39.3 percent from the year-ago period.
Revenues rose 6.5 percent to $12.5 billion, which the company said was a record.
Results - Delta - Position - Summer - Rivals
The results also underscored Delta's improved competitive position this summer over rivals such as American Airlines and United Continental that have been forced to cancel flights because of the grounding of the Boeing 737 MAX.
The Boeing plane has been off line since mid-March following two crashes that claimed 346 lives. Boeing is working closely...
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