Delta Air Lines posts bigger-than-expected 4Q profit on traffic, fare gains - InfoNews

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Delta Air Lines posts bigger-than-expected 4Q profit on traffic, fare gains

FILE- In this Tuesday, Aug. 28, 2012, file photo, a Delta connection airplane approaches LaGuardia airport, in New York. Delta Air Lines Inc. reports quarterly financial results before the market opens on Tuesday, Jan. 21, 2014. (AP Photo/Charles Krupa, File)
January 21, 2014 - 5:05 AM

MINNEAPOLIS - Delta is reporting better-than-expected fourth-quarter profit as fares and traffic rose.

Delta's yield — a key measure of what each passenger pays to fly one mile — rose 4 per cent.

Not counting a non-cash adjustment for taxes, Delta earned $558 million, or 63 cents per share. Revenue rose 6 per cent to $9.08 billion. Both were better than analysts expected, with one-time items excluded on profit.

Delta's net income was $8.48 billion because of a one-time, $8 billion accounting benefit related to taxes.

A year earlier, Delta earned $7 million, or a penny per share, after Superstorm Sandy hurt profits.

Delta Air Lines Inc. expects to boost the amount of flying it does by 2 per cent to 3 per cent during the current quarter. Capacity rose just 1 per cent last year.

News from © The Associated Press, 2014
The Associated Press

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