Delta 3Q profit surges on fuel contract gains - FOX 13 News

Delta 3Q profit surges on fuel contract gains

Posted: Updated:
NEW YORK -

Delta Air Lines Inc. says its third-quarter profit nearly doubled mostly due to the increasing value of its fuel contracts.

The Atlanta airline says it earned $1.05 billion, or $1.23 per share, compared with $549 million, or 65 cents, a year earlier. Excluding one-time items, it earned $768 million or 90 cents — just shy of Wall Street expectations of 91 cents.

Revenue rose 1 percent to $9.92 billion, also just under analysts' estimate of $9.93 billion, according to FactSet. Delta Air Lines Inc. says revenue was driven by its effort to trim seats according to demand.

Fuel costs dropped 23 percent. Overall, operating expenses fell 4 percent. Other expenses related to items like debt and interest fell 18 percent.

 

Copyright 2012 The Associated Press

Powered by WorldNow

FOX 13 / WTVT-TV
3213 West Kennedy Blvd.
Tampa, Florida 33609
Main: (813) 876-1313
Newsroom: (813) 870-9630
Fax: (813) 871-3135

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices