Delta offers upbeat outlook on travel demand, lifting shares

New York: Shares of Delta Air Lines rocketed higher Thursday after the carrier reported better than expected profits and reinstated its full year fore...

New York: Shares of Delta Air Lines rocketed higher Thursday after the carrier reported better-than-expected profits and reinstated its full-year forecast based on a reassuring travel outlook.

The big US airline, which had withdrawn its forecast in April amid a weakening outlook at the time, characterized travel demand as "stabilized" and the US economy as "solid," according to Chief Executive Officer Ed Bastian.

"Our core consumer is in good shape and continues to prioritize travel and affinity for Delta's brand has never been stronger," he said on a conference call with analysts.

For the quarter ending June 30, Delta reported profits of $2.1 billion, up 63 percent from the year-ago period. Revenues were flat at $16.6 billion.

The company projected 2025 profits of between $5.25 and $6.25 a share. Delta had withdrawn its full-year earnings forecast on April 9, which was near the stock market's nadir following