Delta loses $940 million in Q1, but bookings strengthen

Delta Air Lines lost $940 million in the first quarter yet bookings surged in recent weeks, setting up a breakout summer as Americans try to put the pandemic behind them

Delta Air Lines lost $940 million in the first quarter yet bookings surged in recent weeks, setting up a breakout summer as Americans try to put the pandemic behind them.

Shares jumped 3% on Delta's strong revenue numbers before the opening bell Wednesday.

The Atlanta airline still faces stiff headwinds, including a sharp in fuel and labor costs. And it is not clear whether spiking inflation will throttle travel spending.

On Tuesday, the U.S. reported that inflation in the past year rose at its fastest pace in more than 40 years.