Delta says higher airfares expected to last despite drop in oil prices
Company reports $1.4bn profit despite its highest quarterly fuel expense in history
Delta Airlines saidelevated airfares are likely to last despite a recent drop in oil prices, reporting strong appetite for travel and record-high revenue in its quarterly results Friday.
Though the company had its highest quarterly fuel expense in its history, demand has been high enough to pass along 60% of its extra fuel costs to consumers, Delta’s CEO, Ed Bastian, told CNBC, with plans to eventually pass along all elevated costs.
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