Originally Posted by
BKbigfish
To be fair this used to be the case up until legacies figured out becoming banks allowed them to run an unprofitable operation. Their entire domestic network is essentially a loss leader now. DOJ thinks they’re enforcing antitrust when they’re really just further entrenching the 3 way oligopoly that they allowed to develop over the past 20 years.
2nd quarter operational results at Delta.
June Quarter 2024 GAAP Financial Results- Operating revenue of $16.7 billion
- Operating income of $2.3 billion with an operating margin of 13.6 percent
- Pre-tax income of $1.8 billion with a pre-tax margin of 10.6 percent
- Earnings per share of $2.01
- Operating cash flow of $2.5 billion
The Amex cards generated 1.9 billion in non operating revenue however you have to deduct the cost of passengers carried on points to arrive at the profit. That number is hard to come by.