Traffic is flat, but lower fuel spending boosts Delta Air Lines to 2Q profit | iNFOnews | Thompson-Okanagan's News Source

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Traffic is flat, but lower fuel spending boosts Delta Air Lines to 2Q profit

This Monday, Aug. 20, 2012, photo, shows a Delta Airlines aircraft taking off at Miami International Airport in Miami. Delta Air Lines reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Alan Diaz)
July 24, 2013 - 4:50 AM

ATLANTA - Delta Air Lines is spending less on fuel these days, and that's helping the airline make money even though passengers aren't doing much more flying.

Delta said Wednesday that net income in the second quarter was $685 million, or 80 cents per share. That compares with a $168 million loss a year earlier, when the world's second-biggest airline was weighed down by accounting losses on fuel-price bets.

Excluding special items, Delta says it earned 98 cents per share. That beats analysts' forecast of 95 cents per share.

Revenue was about flat at $9.71 billion — $300 million less than analysts expected — as traffic rose only 0.5 per cent.

Delta's fuel bill was $2.6 billion, or $710 million less than a year ago, when it took a $561 million fuel-hedging loss.

News from © The Associated Press, 2013
The Associated Press

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