Delta 3Q profit rises even with traffic flat

(AP) ? Higher fares helped Delta Air Lines Inc. produce a bigger third-quarter profit even though fuel prices jumped sharply and passenger traffic was flat.

On Tuesday the company reported a profit of $549 million, or 65 cents per share. A year ago it earned $366 million, or 43 cents per share. Revenue rose 10 percent to $9.8 billion.

Delta lost money on fuel hedging and other special items. Not counting those, it would have earned 91 cents per share. That was still 3 cents per share less than analysts expected, according to a survey by FactSet. Delta revenue was a little better than analyst expectations.

The Atlanta-based airline says corporate travel demand remains strong. Delta says it is well-positioned to deal with high fuel prices and an uncertain economy.

Associated Press

Source: http://hosted2.ap.org/apdefault/f70471f764144b2fab526d39972d37b3/Article_2011-10-25-Earns-Delta%20Air%20Lines/id-267e74bd48124fa1a7e2b5648f223ba5

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