Last week, Delta was singing the same happy tune. “Global demand is continuing to ramp as consumers shift spend to experiences, businesses return to travel and international markets continue to reopen,” Delta Air Lines CEO Ed Bastian said on his company’s third-quarter earnings call, where he reported a $966 million profit and record operating revenue of $12.8 billion, 3% higher than the same quarter in 2019.
Airline ticket prices have climbed much faster than overall inflation due to several factors. Russia’s war in Ukraine has driven up fuel costs and, in recent months, an extraordinarily strong rebound in travel demand has collided with massive challenges to supply, including labor shortages, aircraft delivery delays and other issues.
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