Delta Air Lines (Delta) has posted its financial results for the March quarter of 2022. The company reported an adjusted operating loss of US$793 million excluding a net gain of US$9 million and a pre-tax loss of US$1.2 billion with an adjusted pre-tax loss of US$1.0 billion, excluding a net expense of US$164 million.
Adjusted operating revenue of US$8.2 billion, which excluded third-party refinery sales, was 79% recovered versus March quarter 2019 on capacity that was 83% restored.
Total operating expense was US$10.1 billion an increased US$679 million compared to the March quarter 2019.
Adjusted for costs primarily from third-party refinery sales, total operating expense of US$9.0 billion decreased US$400 million or 4% in the March quarter 2022 versus the comparable 2019 period.
Delta generated US$1.8 billion of operating cash flow and US$197 million of free cash flow, after investing US$1.6 billion into the business, primarily related to aircraft purchases and modifications.
At the end of the March quarter, the company had US$12.8 billion in liquidity, including cash and cash equivalents, short-term investments and undrawn revolving credit facilities (£1.00 = US$1.31 at time of publication).
