DELTA MISSES ANALYSTS FORECASTS FOR SECOND QUARTER

Dino D'Amore
By Dino D'Amore July 29, 2011 12:04

DELTA MISSES ANALYSTS FORECASTS FOR SECOND QUARTER

Delta Air Lines has reported second quarter adjusted earnings per share of 43 cents, missing analysts’ estimates by a penny.

Although revenue climbed 12% year over year to $9.15 billion, the airline’s aggressive fare increases and cost-cutting measures failed to offset the impact of high fuel costs and the Japan crises – Delta generates almost $2 billion in revenue every year from planes flying the Tokyo hub.

Total operating expenses increased 19% year over year in the second quarter. Fuel expenses, which were up 36%, accounted for 70% of the increase. Increased aircraft maintenance costs, and capacity and revenue-related expenses also aided growth.

Dino D'Amore
By Dino D'Amore July 29, 2011 12:04
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