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Delta Air Lines operating profit up 52% on cost declines in 3Q2012

25-Oct-2012 10:47 AM

Delta Air Lines revenue up 1% - financial highlights for three months ended 30-Sep-2012:

  • Total operating revenue: USD9923 million, +1% year-on-year;
  • Total operating costs: USD8615 million, -4%;
    • Fuel: USD2221 million, -23%;
    • Labour: USD1850 million, +8%;
  • Operating profit: USD1308 million, +52%;
  • Net profit: USD1047 million, +91%;
  • Passenger traffic (RPMs): -1%;
  • Passenger load factor: 86.4%, +0.3 ppt;
  • Passenger yield: USD 16.15 cents, +3%;
  • Passenger revenue per ASM: USD 13.96 cents, +3%;
  • Cost per ASM: USD 13.83 cents, -2%;
  • Total assets: USD44,352 million, +2.0% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: USD2274 million, -14.4% when compared to period ended 31-Dec-2011;
  • Total debt and capital leases: USD12,657 million, -8.2% when compared to period ended 31-Dec-2011;
  • 4Q2012 forecast:
    • Average fuel price: USD3.15 to USD3.20;
    • Operating margin: 4% to 6%;
    • Capital expenditure: USD450 million to USD550 million;
    • Total liquidity: USD5200 million;
    • Cost per ASM excl fuel and profit sharing: +5% to +7%;
    • Capacity (ASMs): -1% to -3%;

Delta Air Lines: "We expect our revenue performance to benefit from our continued capacity discipline and further corporate travel gains and we are forecasting our October unit revenues to increase 4 – 5% year over year," Ed Bastian, President. Source: Company statement, 24-Oct-2012.