Delta Air Lines: Post-Pandemic Strategy Gaining Traction

Delta Air Lines is undervalued, trading at 8-9x earnings despite strong premium demand, double-digit margins, and growing free cash flow. The company's focus on premium services, loyalty programs, and global alliances drives resilient revenue and positions Delta above peers in profitability and stability. Dividend growth and management's commitment to shareholder returns signal confidence in future cash flows, with buybacks likely as debt declines.