Reuters reports, “GE Aerospace forecast annual profit above estimates on Thursday, driven by strong demand for high-margin aftermarket parts and services as airlines are expected to prioritize maintenance spending due to aircraft supply constraints.”
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Tag: Profit
Delta Expects Profit to Nearly Double Next Year on “Robust” Air Travel Demand
Reuters reports that Delta Air Lines just announced that it expects almost doubled profits in the coming year, due to strong demand and reduced “non-fuel operating costs.” Delta expects fourth-quarter revenue to be “7%-8% higher than the same period in 2019.” Delta sees non-fuel costs down “by as much as 7% in 2023 as the company expects to fully restore its network to pre-pandemic level, resulting in a better utilization of its resources.” Delta CEO Ed Bastian said, “Demand for air travel remains robust as we exit the year.”
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