Delta 3Q profit rises even with traffic flat
MINNEAPOLIS (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 Pressweather houston weather houston roger williams roger williams tyler bray tyler bray rashard mendenhall