Issue Summary

We kick off June quarter earnings with Delta Air Lines, who had a rosy outlook for the recovery — at least in the U.S. The carrier turned a profit in June, and expects the black ink to continue to flow through the rest of the year, even as the lavish support of Uncle Sam expires in just over two short months. French Bee and Volaris expressed similarly optimistic outlooks, with the latter already larger than it was pre-pandemic and looking to capture as much marketshare as it can. But American Airlines reminded us that the crisis isn't over, and not…