Delta comes back with record second quarter earnings

DELTA AIRLINES has recorded a second quarter net profit of US$549 million, excluding special items - a $748 million turnaround from the same period in 2009.

Special charges for Northwest merger expenses and aircraft retirements reduced the carrier's actual net income to $467 million, reported American Shipper.

The carrier attributed its "best quarterly profit in a decade" to a 19 per cent increase, or $1.1 billion, in passenger revenue on one per cent less seat capacity, a 22 per cent increase in cargo revenue on higher volume and yield, and a three per cent increase in other revenue, mainly from higher baggage fees.

The airline said it expects revenue to increase by double digits in the third quarter.

Operating expenses rose $317 million compared to 2009 owing to higher fuel expenses and a $90 million profit-sharing payment to employees.
(Source:www.schednet.com)