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Delta Air Lines revenue down 12%, remains in the red in 4Q2009

27-Jan-2010 4:05 PM

Delta Air Lines revenue down 12% - consolidated financial highlights:

  • Three months ended 31-Dec-2009:
    • Total operating revenue: USD6,805 million, -12.0% year-on-year;
    • Total operating cost: USD6,851 million, -12%;
      • Fuel: USD1,706 million, -26%;
      • Labour: USD1,687 million, +21%;
    • Operating profit (loss): (USD46 million), compared to a loss of USD1,097 million in the previous corresponding period;
    • Net profit (loss): (USD25 million), compared to a loss of USD1,438 million in the previous corresponding period;
    • Passenger traffic (RPMs): -7.0%;
    • Passenger load factor: 81.7%, +1.1 ppt;
    • Passenger yield per RPM: USD 13.27 cents, -6.6%;
    • Passenger revenue per ASM: USD 10.84 cents, -5.4%;
    • Operating cost per ASM: -21.2%;
    • Cost per ASM ex special items, fuel & tax: USD 8.68 cents, +7.0%;
  • 12 months ended 31-Dec-2009:
    • Total operating revenue: USD28,063 million, +24%;
    • Total operating cost: USD28,387 million, -8%;
      • Fuel: USD7,384 million, +1%;
      • Labour: USD6,838 million, +58%;
    • Operating profit (loss): (USD324 million), compared to a loss of USD8,314 million in the previous corresponding period;
    • Net profit (loss): (USD1,237 million), compared to a loss of USD8,922 million in the previous corresponding period;
    • Passenger traffic (RPMs): -6.8%;
    • Passenger load factor: 82.0%, -0.4 ppt;
    • Passenger yield per RPM: USD 12.60 cents, -14.0%;
    • Passenger revenue per ASM: USD 10.34 cents, -14.3%;
    • Operating cost per ASM: USD 12.01 cents, -36.5%;
    • Cost per ASM ex special items, fuel & tax: USD 8.28 cents, +3.8%. [more][more - Perspective]

Delta: "2009 was a difficult year by any measure and my thanks go out to the Delta people for their hard work through this challenging time. As a result of the strategic pieces we put in place in 2009 and the strong momentum of our merger integration, Delta is now positioned to capitalize on the economic recovery under way and expects to generate positive RASM improvements each month of this year,” Richard Anderson, CEO. Source: Delta, 26-Jan-2010.

Delta: "Our revenue performance this quarter showed indications of economic recovery with increased corporate travel demand, strong load factors and sequential RASM improvement each month. With initiatives in place to broaden our network through new alliances, invest USD1 billion in our fleet and product and reallocate our global fleet under our single operating certificate, we have built the foundation for further RASM improvement this year,” Ed Bastian, President. Source: Delta, 26-Jan-2010.

Delta: "Delta's strong financial foundation and unmatched merger benefits allowed us to keep our full year unit costs contained and grow our unrestricted liquidity to USD5.4 billion. We are well positioned for 2010 with more than 50% of our debt maturities already addressed and plans to keep our non-fuel unit costs flat to 2009,” Hank Halter, CFO. Source: Delta, 26-Jan-2010.