Delta Air Lines Inc. and United Airlines Holdings Inc. raised their current-quarter revenue forecasts on Tuesday, betting on a recovery in air travel following an Omicron-induced slump.

Delta said it expects first-quarter adjusted revenue to be about 78% of pre-pandemic level versus 72% to 76% it had forecast earlier.

Separately, United Airlines Holdings Inc said it expects a fall in first-quarter operating revenue to be at the "better" end of its prior forecast of 20% and 25% drop versus pre-pandemic levels.

The airline, though, cut its full-year capacity forecast due to rising fuel prices and aircraft delivery delays.

United now expects 2022 capacity to be down in the high single digits versus 2019. It had previously cut capacity forecast in January.