Originally Posted by
ClipperDelta
Your figures are GAAP for DL vs non-GAAP/adjusted for AS.
For Q3 2023,
GAAP Pre-tax margins:
DL: 9.8%
AS: 6.8% ($193m pre-tax profit over revenues of $2.839b)
Adjusted/non-GAAP pre-tax margin:
DL: 11.8%
AS: 11.4%
I admit I used the pretax margin figures each company decided to put in the headline, but if you consider nature of adjustments and Delta’s strong international yields, you can’t argue that Alaska’s domestic franchise is not amongst the most profitable in the US.