Delta Q3 profit totals $1.4bn

Dino D'Amore
By Dino D'Amore October 23, 2013 09:41

Delta Q3 profit totals $1.4bn

Delta Air Lines has announced a profit of $1.37bn for the quarter ending September 30. Excluding gains from fuel hedges, the airline would have earned $1.2 billion. Revenue rose 6% to $10.49 billion. During the quarter, Delta paid its first dividend since 2003 and bought back $100 million worth of shares. Delta shares rose to a new high of $26.24 on the news.

Delta President Ed Bastian credits the airline’s success to an increase in corporate travel and attracting more passengers from rival airlines. Passenger traffic rose 2% during the quarter, while the average yield per seat mile increased by almost 5%.

Delta’s Philadelphia oil refinery also turned its first profit in the most recent quarter of $3 million.

Dino D'Amore
By Dino D'Amore October 23, 2013 09:41
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