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Delta (DAL) Expands 2024 Trans-Atlantic Summer Schedule

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Delta Air Lines’ (DAL - Free Report) management announced that it aims to operate its largest-ever trans-Atlantic flight schedule ever, in the summer of 2024. We believe that the decision is a prudent one, in view of the fact that international air-travel has come roaring back in the post pandemic scenario.

The Atlanta-based carrier announced that from New York JFK nearly 260 weekly flights will operate to 29 destinations in Europe, Africa and the Middle East. As part of the schedule, DAL will launch its nonstop JFK-Naples service on May 23, 2024.  The new route complements its existing service to Milan, Venice and Rome.

On the same day, Delta will resume Shannon, Ireland - JFK route, after a five-year COVID-19 induced hiatus. Another new trans-Atlantic service to be introduced from JFK next summer is a nonstop flight to Munich. The flight will operate thrice a week from Apr 9, 2024.

The planned schedule also includes the resumption of Atlanta- Zurich service. Non-stop flights on this route will operate four times a week from May 31, 2024. From Atlanta, DAL aims to operate nearly 180 weekly flights to 21 destinations in Europe, Africa and the Middle East.

Moreover, management aims to extend flights from Los Angeles to Auckland, New Zealand to year-round from the originally planned winter seasonal service. Flights on this route will operate daily from November 2023 to March 2024 and three times weekly from April 2024 to October 2024. DAL also intends to increase operations from Los Angeles to Sydney, Australia, to twice-daily from December, 2023.

Zacks Rank & Key Picks

Delta currently carries a Zacks Rank #3 (Hold).

Investors interested in the Zacks Transportation  sector may consider stocks like Covenant Logistics (CVLG - Free Report) and Air Canada (ACDVF - Free Report) . CVLG and ACDVF currently carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

CVLG offers a portfolio of transportation and logistics services including asset-based expedited, dedicated and irregular route truckload capacity, asset-light warehousing, transportation management and freight brokerage capability.

CVLG’s cost-control efforts are commendable. The Zacks Consensus Estimate for 2023 earnings has revised 7.44% upward in the past 60 days.

An uptick is aiding Air Canada in passenger traffic. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand.

The Zacks Consensus Estimate for current-year earnings has jumped 57.1% in the past 60 days. ACDVF has outshined the Zacks Consensus Estimate in two of the past four quarters (missing the mark in the other two).

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