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Delta Air Lines' 4Q2011 profits stable; 11% decline in FY2011 operating profit

26-Jan-2012 11:52 AM

Delta Air Lines reports the following financials highlights for 4Q2011 and FY2011:

  • Three months ended 31-Dec-2011:
    • Operating revenue: USD8,399 million, +8% year-on-year;
    • Operating costs: USD7,673 million, +2%;
      • Fuel: USD2,020 million, +5%;
      • Labour: USD1,711 million, N/M;
    • Operating profit: USD726 million, N/M;
    • Net profit: USD425 million, N/M;
    • Passenger load factor: 81.7%, +0.6 ppt;
    • Passenger yield: USD16.06 cents, +11%;
    • Passenger revenue per ASM: USD13.12 cents, +12%;
    • Operating cost per ASM: USD13.94 cents, +6%;
    • Cost per ASM excl fuel and special items: USD8.67 cents, +2%;
  • FY2011:
    • Operating revenue: USD35,115 million, +11%;
    • Operating costs: USD33,140 million, +12%;
      • Fuel: USD9,730 million, +28%;
      • Labour: USD6,894 million, +2%;
    • Operating profit: USD1,975 million, -11%;
    • Net profit: USD854 million, +44%;
    • Passenger load factor: 82.1%, -0.9ppts;
    • Passenger yield: USD15.70 cents, +11%;
    • Passenger revenue per ASM: USD12.89 cents, +10%;
    • Operating cost per ASM: USD14.12 cents, +11%;
    • Cost per ASM excl fuel and special items: USD8.53 cents, +3%;
    • Total assets: USD43,499 million, +0.7% when compared to period ended 31-Dec-2010;
    • Cash and cash equivalents: USD2,657 million, -8% when compared to period ended 31-Dec-2010;
  • 1Q2011 forecast:
    • Operating margin: +2% to +4%;
    • Capital expenditure: USD450 million;
    • Capacity (ASMs): Flat;

Delta Air Lines: "Delta people pulled together in 2011 to produce a solid profit, strong cash generation, and the best operational performance in the industry for our customers. I want to thank them for their hard work through a challenging year and congradulate them on earning USD264 million in profit sharing an USD60 million in Shared Rewards for their exceptional performance. Looking forward to 2012, we will continue out commitment to sustained profitability and superior returns by growing our revenues, while taking a disciplined approach to capacity, costs and capital spending,” Richard Anderson, CEO. Source: Company Statement, 25-Jan-2012.