After months of economic jitters and concerns about travel demand, Delta Air Lines last week shared reason to be optimistic.
The Atlanta-based carrier beat Wall Street expectations with its financial performance during the second quarter of 2025.
But it’s not necessarily a bellwether for the rest of the travel sector … or the broader economy.
Reasons for concern … and optimism
All spring, airlines sounded alarm bells about a travel spending pullback amid souring consumer sentiment. Flight cuts ensued, and airlines pulled financial guidance they’d offered just months earlier.
Still, the summer brought signs of hope.
Summer crowds haven’t let up
Six of the 10 busiest days ever at U.S. airports have come since Memorial Day weekend, according to Transportation Security Administration checkpoint data. That includes the all-time single-day passenger record June 22 — a day that was busier for air travel than the Sunday after Thanksgiving last year.
In recent weeks, airlines have widely concurred that the drop-off in bookings seen early this year hasn’t continued getting worse … even if it hasn’t improved much, either.
“There seems to be growing optimism,” Delta CEO Ed Bastian said last week. “But clearly we still have a long way to go.”
Lingering concerns
That’s Delta, though.
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And other airlines may be feeling the “long way to go” part much more strongly.
After all, Delta has successfully courted a wealthier customer that, Bastian noted, has an average household income of at least $100,000 annually. Those consumers showed no slowdown in swiping Delta’s cobranded American Express credit cards, raking in $2 billion for the airline through that partnership during the past three months alone.
Airlines that rely on more price-sensitive customers have reported far greater concern.
“I think what we’re seeing, perhaps, is fewer trips than what we’ve seen in the past, or, ‘let’s just wait and see what’s going to happen with the [economic] environment,'” Allegiant Air CEO Greg Anderson said, speaking to TPG in an exclusive interview.
The University of Michigan’s June 27 survey found consumer confidence rose 16% in June from May, but still trailed late-2024 levels.
Yet, financial experts at Bankrate (owned by the same parent company as TPG) are following a paradoxical trend with how consumers are feeling, and how they’re spending.
“Hard data on consumer spending, jobs and economic growth has been much more positive than sentiment,” Ted Rossman, senior analyst, told TPG. “Upper-income households are likely propping up some of these numbers, and there’s no doubt that some households are struggling, sadly.
But?
“It has also been dangerous to underestimate the strength of the consumer,” he added.
Flight cuts coming
To ward off uneven travel demand, airlines are cutting more flights heading into the later part of summer and the fall season.
In September, the total number of seats flown by U.S. carriers, domestically, will be down nearly a full percentage point compared to last year, according to data from aviation analytics firm Cirium.
Delta itself plans to trim its schedule starting in mid-August, citing weakness for its coach cabin during “off-peak” hours like early mornings and late nights … not to mention Tuesdays and Wednesdays.
If your flight is affected, I’d expect the airline to offer you rebooking or a refund (you’d be entitled to the latter under U.S. Department of Transportation policy).
How to find cheap flights this summer
Meanwhile, what does all this mean for travelers looking for flight deals?
Here’s some advice for finding cheap flights in 2025.
Look for August deals
In recent years, airlines have reported that the shifting of school calendars has lightened the crowds at airports in August — in contrast to the heaviest summer months of June and July.
Less demand typically translates to lower fares, which means you could be in for a bargain if you’re willing to travel during the summer’s final month.
August has begun to resemble the fall “shoulder season” that TPG has long said brings some of the year’s best flight deals.
Read more: The best time to book flights for the cheapest airfare in 2025
Fly on those off-peak days
This summer has been a story of “hot” and “cold” when it comes to days of the week and the crowds those days bring at airports.
Thursdays, Fridays and Sundays continue to be a bonanza.
But airlines are having a much harder time selling seats on “off-peak” days like Tuesdays, Wednesdays and Saturdays.
Look no further than the hundreds of open seats TPG aviation managing editor Ben Mutzabaugh found on a midweek flight last week from Las Vegas to Newark Liberty International Airport (EWR).
If you can leave for that long weekend Saturday and return Tuesday, you might score a discount.
It’s a great time to fly coach
While we love a swanky first- or business-class seat, some of the best deals this summer have been in the main cabin.
The largest carriers have had no trouble filling their high-end seats with customers undeterred by this year’s economic jitters.
But coach is a different story.
The result?
Earlier this summer, American Airlines put a ton of seats on sale for August and September starting at 5,000 miles, one-way, in coach – and 15,000 miles for travelers flying to Europe.
I recently booked my wife on an award flight to Austin and had a choice of 3,500 Southwest Airlines Rapid Rewards points or 5,000 Delta SkyMiles, one-way (I went with the latter, a seldom-available deal).
This summer, some of the best deals are in the back of the plane.
Use those credits!
For travelers hoping to save on a late-summer trip, don’t forget: Those credit card statement credits and benefits are there to be used, and can really bring down the cost of the trip.
That might mean an airline credit card that helps you save on pesky add-ons like checked bag fees.
Other major cards offer flexible savings, like the $300 annual credit for cardholders with the Chase Sapphire Reserve®, to say nothing of the $500 credit new cardholders can earn right now (see rates and fees).
I’m always out to maximize the up to $200 in statement credits you get back for airline fees when you charge them to The Platinum Card® from American Express per calendar year. (Enrollment is required)
And don’t forget about those free hotel nights you can earn with cards or loyalty.
Personally? I’m headed to a baseball game in Chicago for a trip that probably wasn’t in the budget this summer. But because I spent $15,000 on my World of Hyatt Credit Card (see rates and fees) last year, I had a Hyatt Category 1-4 free night to burn, saving me a few hundred dollars.
Bottom line
Is Delta’s second-quarter success a good sign for airlines and travel more broadly?
Time will tell.
We’ll continue to get a sense for how airlines feel about travel demand when United Airlines reports earnings Thursday.
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