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Delta Air Lines profits decline in 4Q2012, up in full year 2012

23-Jan-2013 2:26 PM

Delta Air Lines revenue up 2% – financial highlights:

  • 4Q2012:
    • Total operating revenue: USD8602 million, +2% year-on-year;
      • Passenger: USD7438 million, +3%;
      • Cargo: USD241 million, -6%;
    • Total operating costs: USD8250 million, +8%;
      • Fuel: USD2390 million, +18%;
      • Labour: USD1828 million, +7%;
    • Operating profit: USD352 million, -52%;
    • Net profit: USD7 million, -98%;
    • Passenger traffic (RPMs): +1%;
    • Passenger load factor: 83.3% +1.6 ppt;
    • Passenger yield: USD 16.43 cents, +2%;
    • Passenger revenue per ASM: USD 13.69 cents, +4%;
    • Operating cost per ASM: USD 15.18 cents, +9%;
  • 2012:
    • Total operating revenue: USD36,670 million, +4%;
      • Passenger: USD31,807 million, +5%;
      • Cargo: USD990 million, -4%;
    • Total operating costs: USD34,495, +4%;
      • Fuel: USD10,150 million, +4%;
      • Labour: USD7266 million, +5%;
    • Operating profit: USD2175 million, +10%;
    • Net profit: USD1009 million, +18%;
    • Passenger traffic: stable;
    • Passenger load factor: 83.8%, +1.7 ppt;
    • Passenger yield: USD 16.48 cents, +5%;
    • Passenger revenue per ASM: USD 13.80 cents, +7%;
    • Operating cost per ASM: USD 14.97 cents, +6%;
    • Total assets: USD44,559 million, +2.4%;
    • Cash and cash equivalents: USD2416 million, -9.1%;
    • Total debt and capital leases, including current maturities: USD12,709 million, -7.8%;
  • 1Q2013 forecast:
    • Operating margin: 2.5% to 4.5%;
    • Fuel price including taxes, settled hedges and refinery impact: USD3.15 to USD2.20;
    • Capital expenditure: USD500 million to USD600 million;
    • Capacity (ASMs): -2% to -4% year-on-year;
    • Domestic: -1% to -3%;
    • International: -3% to -5%;
    • Consolidated unit revenue: +4% to +6%;
    • Consolidated unit costs excl fuel and profit sharing: +6% to +8%. [more – original PR]

Delta: "Our investments in Delta's network, products and operations, combined with our capacity discipline, have produced unit revenue growth that has outpaced the industry for 21 consecutive months. We have built strong revenue momentum going into the year with our customer-focused initiatives, corporate share gains, and capacity actions. As a result, we project a 4 – 6 percent year over year increase in March quarter unit revenues,” Ed Bastian, president. Source: Company statement, 22-Jan-2013.