Delta Air Lines Earnings: Turbulence Now, but Clear Skies Ahead
On Thursday, Delta Air Lines (NYSE: DAL) reported a small adjusted profit for the final quarter of 2021. That said, the company lost $395 million before tax under generally accepted accounting principles (GAAP), mainly due to losses on its investments in various airline partners. Additionally, Delta projected that it will post another loss in the first quarter of 2022.
Notwithstanding this near-term turbulence, Delta's management expressed confidence that the airline will earn "a meaningful profit" in 2022. Indeed, the earnings report included several bright spots that bode well for a strong recovery over the next few years.
Six months ago, Delta Air Lines thought that it had put its pandemic-related losses in the rearview mirror. The company projected that it would be profitable throughout the second half of 2021 and beyond.
Source Fool.com
