As Earnings Season Starts, Expectations For Delta Are High

As Earnings Season Starts, Expectations For Delta Are High

Delta jets parked at LAX gates last month, as Delta unveiled its new $1. 9 billion Terminal 3. (Photo ... [+] by Irfan Khan) Delta Air Lines will kick off the airlines' first quarter earnings reporting on Wednesday, at what seems like a best of times, worst-of times period for the industry. The good news is posted daily by the Transportation Security Administration, which reports the number of people who cleared airport security. This number reflects strong demand, fed by hope that the pandemic has ended. On Monday, for instance, 2. 18 million people cleared security, up 49% from the same day a year earlier. On the negative side, fuel costs have risen as a result of the Ukraine invasion. Additionally, several airlines —led by Alaska and JetBlue – have had a difficult time ramping up capacity to meet the soaring demand. Benchmark brent crude reached nearly $140 a barrel in early March, but has since fallen back to $98. 49 per barrel on Monday, its first close under $100 since March 16. That is still high. Before the Ukraine invasion, the last time oil prices traded at $100 was 2014. Prices have climbed steeply since 2020, when they averaged