Delta Air Lines continues to be well ahead of comparable 2019 quarterly revenue figures and is on pace to fully restore its pre-pandemic capacity sometime in 2024 on 14% fewer departures.
Near-term, Delta is projecting $45.5-45.6 billion in total 2022 revenues and a 15-20% increase in 2023, followed by growth on pace with GDP in 2024, the carrier said during a Dec. 14 investor event. On a quarterly basis, revenues hit 99% of 2019 levels in the second quarter, 103% in the third quarter, and are projected to be 107-108% in the fourth quarter, even as the company revised the top end of its guidance downward 1%, to 8%. From there, the demand trend picks up again.
“December [is] going to be the off-trend month, and that is relating to the calendar,” Delta President Glen Hauenstein said. “January will be significantly better than December. February, we think, better than January and March, we think we’ll be better than February.”
Within its network, Delta expects to operate 85% of 2019 capacity in 2022 as measured in available seat miles (ASMs) on 81% of comparable departures. The figures climb to 101% of ASMs on 86% of 2019 departures in 2023, as it parks the remainder of its 50-seat regional jets (RJs) and welcomes more, larger aircraft—both new deliveries and ones that are not yet being fully utilized.
“We have between 80 and 100 regional jets out of our 325 two-class RJs that are now under-utilized or not being utilized,” Hauenstein said. “That is one of the things that we’re going to carry through most of 2023. We do not think that this is going to resolve itself until 2024. In other words, the regional jet pilot shortage will be with us throughout the entire year.”
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