Delta sees a fast recovery from Omicron turbulence

Delta Thursday reported higher quarterly earnings on the back of strong holiday travel demand and predicted a swift recovery from turbulence caused by the Omicron coronavirus variant, driving its shares higher. The company said surging COVID-19 cases will likely result in losses in January and February, resulting in a loss for the quarter through March. But it expects the recovery in travel demand to resume around late February, putting the carrier in a position to generate profit in the June, September and December quarters. Overall, it expects a "meaningful" profit in 2022 and backed its target to exceed the company's pre-pandemic financial performance by 2024. "If we could pick a period of time for an Omicron variant to surge, we would probably pick this time of year," Delta's President Glen Hauenstein told investors on a call. Air travel demand tends to be the weakest in the first quarter. The company said bookings for international travel were down, but Delta believes the transatlantic market will have a strong spring and summer once Omicron-driven border restrictions are lifted.<br/>