Delta Air Lines Q4 cargo revenue up 33%

Delta Air Lines reported a 33% increase in cargo revenue at $248 million for the fourth quarter ended December 31, 2022 compared to $187 million in Q42019. For the fourth quarter of 2021, Delta had reported cargo revenue of $304 million.

For the year ended 2022, Delta reported cargo revenue of $1.05 billion, an increase of 39 percent from 2019 but only marginally higher from 2021. For full year, adjusted revenue was $45.6 billion and earnings per share of $3.20. The company ended the year with liquidity (cash and cash equivalents, short-term investments and undrawn revolving credit facilities) of $9.4 billion and adjusted net debt of $22.3 billion.

"As we move into 2023, the industry backdrop for air travel remains favourable and Delta is well positioned to deliver significant earnings and free cash flow growth. We expect to grow 2023 revenue by 15 to 20 percent and improve unit costs year-over-year, supporting a full-year outlook for earnings of $5 to $6 per share and keeping us on track to achieve more than $7 of earnings per share in 2024." Ed Bastian, Chief Executive Officer, Delta Air Lines

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