Delta Air Lines (DAL) CEO Ed Bastian wants travelers to forget the turbulence of travel — in exchange for a Netflix-like (NFLX) escape.
“It will become a much more immersive entertainment experience,” Bastian said at Yahoo Finance’s Invest event. “We have 200 million customers a year on average, three hours a session. They’re all seat-belted in, all facing the same way. If you can’t figure out a way as a marketer to create value for those consumers as well as for yourself, you’re not very good.”
Delta stock is up 2% in 2025 and has gained 75% over the past five years, far outperforming rivals like American Airlines (AAL), whose shares have risen just 14% in the same period.
Investors have rewarded Delta’s steady profits and pivot toward premium offerings, even as travel demand softens and operational hiccups mount.
For the first time in its history, the airline expects sales of premium seats to overtake those of its main cabin next year, Bastian said. The milestone arrives a full year earlier than anticipated.
Premium seating now “drives the bulk of the revenue on board the plane,” a striking shift for a product once considered “a loss leader.” The segment is expected to make up about 50% of Delta’s redesigned fleet as it acquires international planes, according to Bastian.
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Third quarter earnings back up the pivot. Revenue reached a record $15.2 billion, up 4.1% year over year and slightly above consensus estimates of $15.1 billion, per Bloomberg. Adjusted earnings per share came in at $1.71, topping expectations of $1.56.
Delta also raised its full-year profit guidance to the top end of its prior range, projecting free cash flow of $3.5 billion to $4 billion, up from $3 billion to $4 billion, citing strong premium and corporate demand, cost discipline, and network efficiency.
JPMorgan analyst Jamie Baker called Delta “the industry leader among full-service airlines,” rating the stock Overweight. According to Yahoo Finance data, 95% of analysts covering the airline rate it a Buy.
Still, not every traveler will enjoy the premium push.
“If all you want from your carrier is the lowest price, we are price-competitive,” Bastian said. “But you may be one of the last people to board in line, [and] you may not have room for your bags.”
The company is also leaning on new tech to deepen its consumer reach. Delta has invested more than $1 billion in free global Wi-Fi, integrated streaming partnerships with YouTube, and collaborations with brands like Uber (UBER).
