NEW YORK (TheStreet) -- Delta Air Lines Inc. (DAL) rose 2.8% to $29.59 a share on Wednesday after the airline announced it plans to spend $770 million on interior improvements for its various aircraft.
Delta announced it would spend the money through 2016 to refresh the interiors of its narrow-body craft, Boeing 757-200, 737-800, Airbus A319 and A320 airplanes. The company plans to use the money to offer power in each seat, to add new slim-line seats with adjustable headrests, to update the bathrooms on the aircraft, to add more efficient galleys and to improve other areas of passenger convenience and comfort during flight.
"We're continuing to make smart long-term investments in our products and services to meet the expectations of our customers," said Glen Hauenstein, executive vice president and Chief Revenue Officer, in a company statement. "In just six years, we will have made updated to interiors throughout Delta's fleet giving customers improved comfort and more options to work or relax and be entertained."
This move is part of a widespread program within Delta to improve its flights. All of Delta's international wide-body aircraft will include full flat-bed seats with direct-aisle access in the company's BusinessElite class by mid-2014, and all transcontinental flights will have full flat-bed seats in BusinessElite by Summer 2015. All two-class domestic aircraft currently have Wi-Fi access, and this will be expanded to Delta's entire international fleet by 2015.
TheStreet Ratings team rates DELTA AIR LINES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: