Delta Air Lines, Inc. (NYSE:DAL) Q4 2023 Earnings Call Transcript

Robert Silk: Oh yeah. Good morning. Glen, you mentioned that you all had gained corporate share this year. I’m wondering if you could elaborate on what caused that. You think how you gained it and there was any impact. Some of it might have come from the removing of bears from the traditional GDS channels by your main competitors?

Glen Hauenstein: Yeah. I think one of the issues were we were very inventory constrained in 2022 as we were behind the industry in our rebuild? And in 2023 we caught up back to basically a pre-pandemic level of capacity and those additional seats were enabled more corporates to get on the aircraft. I’d say what’s different about now versus pre-pandemic is that before the pandemic and before the segmentation of customers, the differential between the yields on corporate and the yields on non-corporate high end leisure was significant. And these days those have closed, so now you have competition for the premium seats between those two categories that didn’t exist pre-pandemic. And that’s exciting for us as we manage them. But I think getting more seats available is one of the key priorities in the premium sector so that we can accommodate all the demand.

Robert Silk: Okay. Thanks. And what about seeing any sort of share shift based upon your strategy of leaving all your fares available in the traditional EDIFACT GDS?

Glen Hauenstein: Yeah. Clearly we think that our strategy is more customer friendly, and I’m sure that’s part of it, but we don’t want to buy it.

Robert Silk: Okay. Thank you.

Tim Mapes: Matthew that will wrap up the call. If you want to close it up.

Operator: Certainly, that concludes today’s conference. Thank you for your participation today.