Delta FY2021 cargo revenue zooms past $1 billion
Strong holiday demand and higher yields saw Delta Air Lines report a 63 percent increase in cargo revenue to $304 million for the quarter ended December 31, 2021 compared to $187 million in the December quarter of 2019 and up 24 points sequentially (compared to the September quarter).
For the year ended December 31, Delta Cargo revenue crossed $1 billion to $1.032 billion - an increase of 37 percent from $753 million in 2019.
"2021 was a year like no other for Delta with significant progress in our recovery supported by growing brand preference, enabling us to be the only major U.S. airline to deliver profitability across the second half of the year," says Ed Bastian, chief executive officer, Delta. "As always, our people drove this success, which is why we were happy to announce this morning a special profit-sharing payment for all eligible employees."
Omicron is expected to temporarily delay the demand recovery 60 days "but as we look past the peak, we are confident in a strong spring and summer travel season with significant pent-up demand for consumer and business travel."
