Strong Year for Delta’s Corporate Sales
Delta Air Lines president Edward Bastian said 2014 was a strong year for corporate sales, particularly in the financial services, media, and automotive sectors. Bastian said in the carrier’s most recent Ford Corporate Travel Survey, 88% of its customers anticipate increasing or at least maintaining travel expenditures in the first quarter and over the remainder of the year.
Although Delta added 8% more first class seats in 2014, its paid load factor in first class increased by six points in the to 49%. Delta’s fuel hedging program put a huge dent in its 2014 profits. Year-over-year comparisons also were hurt by a large tax valuation gain in 2013. The carrier reported net income of $659 million, down 94% from 2013’s net of $10.5 billion. Total revenue was up 6%, to $34.95 billion.