Delta earns profit with help from taxpayers…

  • Delta reported its first quarterly profit since late 2019 thanks to federal payroll aid.
  • Domestic leisure demand has fully recovered and corporate travel also rose in the quarter.
  • Delta said its third-quarter revenue would likely come in down up to 35% below 2019 levels.

Delta Air Lines on Wednesday reported second-quarter revenue that topped Wall Street’s estimates and said leisure and business travel bookings rose sharply after more than a year of pandemic lockdowns.

The Atlanta-based airline posted a profit of $652 million, snapping a five-quarter streak of losses, thanks to federal coronavirus aid that offset some of its costs. It expects to be profitable for the second half of the year without the benefit of the government aid.

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