Delta Q1 results

Delta Air Lines has reported a pre-tax income for the March 2014 quarter of $444 million, excluding special items, which is an increase of $363 million over same period last year. Delta’s net income for the March 2014 quarter was $281 million, or $0.33 per diluted share, excluding special items. This is $196 million higher year over year despite $163 million of non-cash tax expense now recognized after the reversal of the company’s valuation allowance. On a GAAP basis including special items, Delta’s pre-tax income was $335 million and net income was $213 million, or $0.25 per diluted share. Delta