Delta Q4 cargo revenue up 32%
For the full year of 2024, cargo revenue increased 14 percent to $822 million.
Delta Air Lines reported a 32 percent increase in cargo revenue at $249 million for the fourth quarter of 2024 compared to $188 million in the same period of 2023.
For the full year of 2024, Delta reported a 14 percent increase in cargo revenue at $822 million as against $723 million in 2023, says an official release.
Total operating revenue for Q42024 was $15.6 billion, an increase of nine percent while net income dropped 59 percent to $843 million from $2 billion in Q42023.
For the full year of 2024, operating revenue increased six percent to $61.6 billion and net income was down 25 percent at $3.5 billion.
"2024 was a great year for Delta with our results reflecting differentiation from the industry and increased durability," says Ed Bastian, Chief Executive Officer, Delta. "Our people finished the year strong, delivering industry-leading operational and financial performance. Sharing Delta's success is core to our culture, and I'm excited to recognise our people's outstanding efforts with $1.4 billion in profit sharing payments next month.
"As we move into 2025, we expect strong demand for travel to continue, with consumers increasingly seeking the premium products and experiences that Delta provides. Our differentiated strategy and best-in-class operations, combined with demand strength and an increasingly constructive industry backdrop, position us to deliver the best financial year in Delta's 100-year history with pre-tax income greater than $6 billion, earnings per share greater than $7.35 and free cash flow of more than $4 billion."
Delta expects to grow free cash flow to over $4 billion in 2025, supporting meaningful debt repayment and further leverage improvement to 2x or less "as we progress towards our long-term gross leverage target of 1x," says Dan Janki, Chief Financial Officer, Delta.
