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Delta Air Lines (DAL) Inks Deal to Boost Footprint in Israel
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Delta Air Lines (DAL - Free Report) and EL AL Israel Airlines have announced a strategic partnership aimed at providing more convenient travel options for customers flying between the United States and Israel. The agreement will involve reciprocal codeshare and frequent flyer benefits, allowing passengers to earn and redeem miles on both carriers. Initially, customers will be able to check in for their entire journey and have their boarding passes issued and bags checked through to their destination.
Delta Air Lines, with its U.S. gateways in Atlanta, Boston and New York-JFK, offers up to 200 same-day connections from Tel Aviv. EL AL, on the other hand, provides non-stop service to Tel Aviv from Boston and New York-JFK, as well as from Los Angeles, Miami and Newark. Both airlines plan to add their respective codes to each other's operated flights in the future, further expanding the range of destinations available to customers.
The partnership is expected to strengthen Delta's connection to Israel and enhance its global network. Matteo Curcio, Delta's senior vice president for Europe, the Middle East, Africa, and India, expressed the company's commitment to better connecting customers around the world through enhanced partnerships. By collaborating closely with EL AL, Delta aims to offer its customers unrivaled access to destinations across the United States.
We believe that the decision to ink a deal with EL AL is a prudent move by Delta’s management. By expanding its network and improving connectivity, this Atlanta-based carrier can attract more customers and generate additional revenues. The ability to earn and redeem miles on both carriers will also be appealing to frequent flyers, potentially increasing customer loyalty and engagement.
Copa Holdings is benefiting from an improvement in air travel demand. In first-quarter 2023, passenger revenues increased 28.5% from first-quarter 2019 levels due to higher yields.
CPA’s focus on its cargo segment is encouraging. In first-quarter 2023, cargo and mail revenues grew 51.8% from the first quarter of 2019 on higher cargo volumes and yields.
Copa Holdings' fleet modernization and cost-management efforts are commendable as well. The Zacks Consensus Estimate for CPA’s current-year earnings has been revised 25.08% upward over the past 60 days.
Allegiant is seeing a steady recovery in leisure air travel demand. In first-quarter 2023, this Las Vegas, NV-based company’s operating revenues grew 29.9% on a year-over-year basis. Passenger revenues, accounting for 93.7% of the top line, increased 31.3% on a year-over-year basis.
Allegiant's fleet modernization efforts are encouraging. The Zacks Consensus Estimate for ALGT's current-year earnings has been revised 41% upward in the past 60 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Delta Air Lines (DAL) Inks Deal to Boost Footprint in Israel
Delta Air Lines (DAL - Free Report) and EL AL Israel Airlines have announced a strategic partnership aimed at providing more convenient travel options for customers flying between the United States and Israel. The agreement will involve reciprocal codeshare and frequent flyer benefits, allowing passengers to earn and redeem miles on both carriers. Initially, customers will be able to check in for their entire journey and have their boarding passes issued and bags checked through to their destination.
Delta Air Lines, with its U.S. gateways in Atlanta, Boston and New York-JFK, offers up to 200 same-day connections from Tel Aviv. EL AL, on the other hand, provides non-stop service to Tel Aviv from Boston and New York-JFK, as well as from Los Angeles, Miami and Newark. Both airlines plan to add their respective codes to each other's operated flights in the future, further expanding the range of destinations available to customers.
The partnership is expected to strengthen Delta's connection to Israel and enhance its global network. Matteo Curcio, Delta's senior vice president for Europe, the Middle East, Africa, and India, expressed the company's commitment to better connecting customers around the world through enhanced partnerships. By collaborating closely with EL AL, Delta aims to offer its customers unrivaled access to destinations across the United States.
We believe that the decision to ink a deal with EL AL is a prudent move by Delta’s management. By expanding its network and improving connectivity, this Atlanta-based carrier can attract more customers and generate additional revenues. The ability to earn and redeem miles on both carriers will also be appealing to frequent flyers, potentially increasing customer loyalty and engagement.
Zacks Rank & Key Picks
Delta currently carries a Zacks Rank #3 (Hold). Investors interested in the Zacks Airline industry may consider stocks like Copa Holdings (CPA - Free Report) and Allegiant Travel Company (ALGT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Copa Holdings is benefiting from an improvement in air travel demand. In first-quarter 2023, passenger revenues increased 28.5% from first-quarter 2019 levels due to higher yields.
CPA’s focus on its cargo segment is encouraging. In first-quarter 2023, cargo and mail revenues grew 51.8% from the first quarter of 2019 on higher cargo volumes and yields.
Copa Holdings' fleet modernization and cost-management efforts are commendable as well. The Zacks Consensus Estimate for CPA’s current-year earnings has been revised 25.08% upward over the past 60 days.
Allegiant is seeing a steady recovery in leisure air travel demand. In first-quarter 2023, this Las Vegas, NV-based company’s operating revenues grew 29.9% on a year-over-year basis. Passenger revenues, accounting for 93.7% of the top line, increased 31.3% on a year-over-year basis.
Allegiant's fleet modernization efforts are encouraging. The Zacks Consensus Estimate for ALGT's current-year earnings has been revised 41% upward in the past 60 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.