In February, the airline paid $ 1.1 billion to employees in profit sharing and provides for a further reduction in debt.
Boston – Delta AirLines president Ed Bastian signaled optimism about the 2017 results, saying he hopes to meet with the company’s newest investor, billionaire Warren Buffett, soon.
Two months ago, Delta announced a record performance in 2016 but noted that higher fuel prices and wage costs could push margins in the March quarter ahead of an expansion in the second half of the year.
“The numbers are good … we are on a good track record,” said Bastian. The executive projected Delta’s pre-tax annual profit of about $ 6 billion, basically in line with last year’s.
In February, the airline paid $ 1.1 billion to employees in profit sharing and provides for a further reduction in debt.
Speaking at a luncheon at the Boston College Chief Executives Club, Bastian cited the company’s approximately 180 million customers, its 80,000 employees and the largest shareholder, billionaire Warren Buffett.
The billionaire gave a vote of confidence to the aviation industry by raising its stake in American Airlines, Delta and United in the fourth quarter, as well as taking a position on Southwest Airlines.
At Delta alone, Buffett invested $ 3 billion. He and the airline’s president are due to meet soon.
Recently, Bastian met with President Donald Trump and said that security would be paramount concern.