Delta gains as rivals struggle with Boeing Max cancelations
Delta Air Lines has been the major beneficiary of competitors’ struggles to revise flights schedules due to the grounding of Boeing 737 Max jets, according to one analyst.
Second-quarter revenue will be up by about 8% and unit revenue by 3.5%.
"Delta is benefiting from artificially low capacity growth and spillover demand from competitors impacted by the grounding of the MAX," Cowen analyst Helane Becker wrote in a note to investors.
Capacity is also above its original expectation and the industry average at 4.9%.
"We expect Delta’s capacity growth to revert back to a normalized level once the Max is recertified, however, timing of that remains uncertain," Becker added.
American Airlines, Southwest Airlines and United Airlines have a combined 72 Boeing Max aircraft grounded, which has forced the carriers to shift schedules and cancels hundreds of flights a day.
It has even led to routes being scrapped.
Boeing and the FAA are still working to approve changes to the Max with the all-clear not expected to be given until October at the earliest.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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