Delta Air Lines Inc (NYSE:DAL) gained over 4% in pre-market trading after the carrier posted better-than-expected earnings and revenue for the first quarter.
A 6% jump in revenue to a record US$12.6 billion over the three months to March saw the airline beat Wall Street expectations of US$12.5 billion.
Adjusted per-share earnings also beat expectations, coming in at US$0.45, against an anticipated US$0.36.
Delta added it remained on course for earnings per share of between US$6 and US$7 for the year as strong travel demand has continued into the June quarter.
Free cash flow guidance of US$3 billion to US$4 billion was also reiterated.
“Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,” chief financial officer Dan Janki commented in a statement.
Adjusted net debt fell by US$1.2 billion to US$20.2 billion over the quarter, leaving the airline on course to reduce the figure by US$4 billion for the year.
Shares climbed 4.3% to US$47.32 in pre-market trading.