Corporate demand in the third quarter continued to “steadily improve,” according to Delta Air Lines executives, speaking on a third quarter earnings call. Ed Bastian, CEO, said: “Corporate travel has come back. It comes back and then plateaus, comes back and plateaus. And I think you’ll see another wave of return.”

The carrier reported total third-quarter revenue of $15.5 billion, up 11% from the same period in 2022. Passenger revenue was $13.1 billion, representing a year-over-year increase of 14%.

Glen Hauenstein, president, said that less recovered sectors like technology and financial services saw double-digit growth during the quarter. He added that entertainment production strikes have caused a significant change in the business travel to and from Los Angeles, and that the United Auto Workers strike has “curtailed a significant amount of the business in Detroit.”

Despite those issues, Hauenstein said the carrier’s most recent survey of its corporate clients indicated a “significant majority” expect their travel to remain stable or increase into the fourth quarter and 2024. Demand from small and midsize companies and “hybrid travelers,” he said, remain “well above 2019 levels.”

Bastian also said, as he has before, that the company is reassessing the proposed changes to SkyMiles status earning requirements, adding that “you’ll be hearing from us in the coming days,” and that he received positive feedback as well as negative to the earlier announcement.

Most everyone agrees that something has to be done, said Bastian, “because everyone sees that the premium number of customers that we continue to build are in excess of the premium assets that we have to offer.”
Delta reported third-quarter net income of $1.1 billion, up 59% from the third quarter of 2022.