Delta reports $1.3 billion quarterly profit


Delta Air Lines reported a profit of $1.3 billion for the third quarter, up 13 percent from a year ago despite higher fuel costs and a $30 million hit from Hurricane Florence.

With passengers paying more for premium tickets, Delta president Glen Hauenstein said in a written statement, the company had “record revenues” in the third quarter, which ended Sept 30.

Atlanta-based Delta’s total quarterly operating revenue was $11.95 billion, up 8 percent. Revenue growth helped offset a $655 million increase in fuel costs, according to the company.

Looking forward, Delta expects a 30 percent increase in fuel prices but that revenue will continue to grow. Overall, it will increase flight capacity by about 4 percent in the December quarter compared with a year ago.

Delta CEO Ed Bastian said during a conference call with investors that he expects the company to report a $5 billion profit for the full year, similar to last year’s results.

With the company this month marking the tenth anniversary of its merger with Northwest, which was announced a year after emerging from bankruptcy protection, Bastian said the airline has gone through “an unprecedented transformation.”

Bastian also thanked employees for their work during the “difficult and challenging conditions of Hurricane Michael,” saying Delta has had less than 100 cancellations over the last two days with “minimal financial impact.”



Reader Comments ...


Next Up in Business

Kmart plans to close its last Georgia stores
Kmart plans to close its last Georgia stores

A big national retailer is closing its last stores in Georgia, where it once reportedly considered moving its headquarters. Kmart, which in years past had dozens of stores in the state, is shutting the only two Georgia stores the chain lists online. One is in Peachtree City. The other is in Covington. A company spokesman wasn’t immediately available...
Salesforce to add 600 jobs, double presence in Atlanta
Salesforce to add 600 jobs, double presence in Atlanta

Salesforce will announce plans today to expand its Atlanta office, adding 600 jobs and doubling its presence here. The San Francisco-based software company, which has an office in Buckhead, has annual revenue of about $10 billion. “Atlanta and the Southeast has been an unbelievable market for us, with so many international companies, the...
Sears bankruptcy: In metro Atlanta, few stores remain 
Sears bankruptcy: In metro Atlanta, few stores remain 

Sears, once the mightiest of American retailers, was an endangered species in metro Atlanta even before it filed for bankruptcy protection Monday. Even before waves of recent closures in the region, it had receded in the minds of shoppers, retail observers say. “Sears has been irrelevant for a number of years,” said Ken Bernhardt, a former...
Customs beagle detects roasted pig head in checked luggage at Hartsfield-Jackson
Customs beagle detects roasted pig head in checked luggage at Hartsfield-Jackson

A U.S. Customs and Border Protection beagle named Hardy detected a roasted pig head in checked luggage at Hartsfield-Jackson International Airport. Hardy, a six-year-old rescue beagle, alerted his handler to a bag belonging to a traveler from Ecuador. Inside was the pig head, which weighed nearly 2 pounds. Carey Davis, director for the Port of Atlanta...
UPS ramps up operations of massive Southeast regional hub in Atlanta
UPS ramps up operations of massive Southeast regional hub in Atlanta

Spanning the size of 19 football fields, a massive new UPS Southeast shipping hub in Atlanta is aimed at helping the company sort millions of packages as online shopping continues to skyrocket. Sandy Springs-based UPS is getting about $50 million in city, county and state tax incentives for the highly-automated regional hub next to Fulton...
More Stories