Low-Cost Airlines Have One Job. They’re Failing: Thomas Black

The gap between the haves and have-nots in the US airline industry is only growing.

Delta Air Lines Inc., which reported third-quarter earnings on Oct. 10, is in the most enviable position among the haves, and it’s not by accident. The Atlanta-based carrier has been working to position itself as a premium airline for more than a decade, and it’s paying off in a big way.

The frequent-flying class is still feeling flush with jobs aplenty and an S&P 500 Index that has jumped more than 20% so far in 2024, and that’s on top of last year’s 24% gain. This is ...