Delta Reports Record Third Quarter Profits
The Atlanta-based carrier reported a profit for the quarter of $1.315 billion, after one-time charges for a fleet restructuring, debt extinguishment, and employee profit-sharing, up from $357 million a year earlier.
Passenger revenue decreased by 2% to $9.595 billion from $9.776 billion for the three months ended September 2015 compared to the same period in 2014.
Delta’s cargo revenue in the quarter dropped 20% to $196 million from $244 million a year earlier. It had fallen 10% in the prior quarter.
The airline said it would limit capacity growth and not “recast the business for low fuel prices” to avoid squandering the gains it was seeing from record low jet fuel prices. It also said it had seen an 8 percentage point increase in its first-class load factor to 56% and that its low-cost Basic Economy product now reaches over 450 markets.
(Photo: Accura Media Group)