business · 2 outlets · 2 linked reports
Delta Says Higher Airfares May Last as Fuel Costs Remain Elevated
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Summary
- Delta CEO Ed Bastian said the airline posted a $1.4 billion second-quarter profit.
- MarketWatch reported adjusted net income fell 25.8% to $1.03 billion as fuel costs surged.
- Delta’s adjusted fuel expense rose 77% to $4.41 billion, and Bastian called the quarter’s fuel bill the highest in company history.
- Bastian said Delta had passed about 60% of its extra fuel costs to customers and planned to eventually pass along all elevated costs.
- The Guardian reported that fares were 12% to 15% higher than a year earlier.
The question
Strong demand will keep airfares elevated even if oil prices ease.
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