Delta Air Lines rises on comments demand for holiday travel is ‘very, very strong’

Delta Air Lines Inc. (NYSE:) President Glen Hauenstein said today the company anticipates a robust end to the year for the airline industry, building on a record-setting Thanksgiving.

Shares rose 2.6% on the news.

He noted increased demand for corporate travel since Thanksgiving and highlighted strong and growing advance bookings for transatlantic trips, even during the slower European travel season.

Moreover, Hauenstein mentioned that the industry’s domestic capacity growth is expected to fall to zero year-over-year in January, which he considers one of the most significant drops in his career.

Delta Air Lines also reaffirmed its profit and revenue forecasts for 2023, citing steady travel demand.

The Atlanta-based carrier anticipates an annual profit in the range of $6 to $6.25 per share and expects total revenue to increase by about 20%. Moreover, Delta reaffirmed its operating margin forecast, aiming for about 11.5% for the year.