Delta Air Lines reports strong profit growth in 1Q2014

Delta Air Lines revenue up 5% - financial highlights for three months ended 31-Mar-2014:

• Total operating revenue: USD8916 million, +5% year-on-year;
• • Passenger: USD7677 million, +5%;
  • Cargo: USD217 million, -9%;
• Total operating costs: USD8296 million, +0.2%;
• • Fuel: USD2226 million, -3%;
  • Labour: USD1969 million, +3%;
• Operating profit: USD620 million, +179%;
• Net profit: USD213 million, +2943%;
• Passenger traffic (RPMs): +4%;
• Passenger load factor: 82.7%, +1.5 ppt;
• Passenger yield: USD 17.21 cents, +1%;
• Passenger revenue per ASM: USD 14.24 cents, +3%;
• Operating cost per ASM: USD 15.39 cents, -1%;
• Total assets: USD52,167 million;
• Cash and cash equivalents: USD2699 million;
• Total liabilities: USD40,526 million;
• 2Q2014 forecast:
• • Operating margin: 14% to 16%;
  • Fuel price, including taxes, settled hedges and refinery impact: USD2.97 to USD3.02;
  • Consolidated unit costs excl fuel and profit sharing: stable to +2%;
  • Capacity: +2% to +3%. [more - original PR]

Delta: "Our work is not finished, and there is great opportunity ahead as we expect the June quarter to produce 14% - 16% operating margins. We are transforming Delta into a high-quality S&P 500 company that consistently delivers strong earnings growth and shareholder returns," Richard Anderson, CEO. Source: Company statement, 23-Apr-2014.