The COVID-19 pandemic caused an unprecedented plunge in air travel demand during 2020. Nevertheless, no major U.S. airlines filed for bankruptcy last year. Airlines’ efforts to cut costs and shore up their balance sheets over the past decade — combined with generous government aid — prevented an industrywide catastrophe.
Still, some airlines have fared better than others. Delta Air Lines (NYSE: DAL) avoided the worst damage during the pandemic. The airline giant will provide another update on its turnaround progress later this week when it reports its fourth-quarter results. Here’s what investors should look for in the upcoming earnings report.