DALLAS - Delta Air Lines (DL) CEO Ed Bastian announced via a company memo a 4% wage increase, which will take effect on May 1. The base salary rise is for eligible scale and merit employees worldwide.

Bastian recalled that sales plummeted by 95% almost immediately two years ago when travel demand dried up due to the pandemic. For the month of March, the CEO says the airline is anticipating a profit. Customers are continuing to return to the carrier, with corporate offices reopening, business travelers renewing face-to-face relationships, and foreign limitations relaxing, resulting in strong demand for spring and summer travel.

The DL CEO took the time to recognize the work and dedication of the Delta team. Bastian also mentioned the well-deserved profit-sharing bonuses on Valentine's Day last month, as DL was the only major US airline to make a profit in the second half of 2021.

Finally, the chief executive said DL was keeping an eye on the impact of the Ukraine crisis on global fuel prices. According to the CEO, a US$10 increase in crude oil prices often results in a US$1 billion increase in the airline's yearly jet fuel costs.

Delta is well-positioned to manage through the tough volatility, thanks to the efforts the carrier has made in recent years to refresh its fleet with fuel-efficient aircraft. The CEO said the DL "will be ready to adjust as needed as the environment evolves."

Featured image: Delta Air Lines N123DQ Airbus A220-100. Photo: Michael Rodeback/Airways