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Delta Air Lines revenue up 2%, back in the black in 1Q2010

21-Apr-2010 3:22 PM

Delta Air Lines revenue up 2% - consolidated financial/traffic highlights for the three months ended 31-Mar-2010:

  • Total operating revenue: USD6,848 million, +2% year-on-year;
  • Total operating costs: USD6,780 million, -5%;
    • Fuel: USD1,683 million, -11%;
    • Labour: USD1,672 million, -2%;
  • Operating profit: USD68 million, compared to a loss of USD483 million in the previous corresponding period;
  • Net profit (loss): (USD256 million, compared to a loss of USD794 million in the previous corresponding period;
  • Passenger traffic (RPMs): -1.4%;
    • Mainline: -1.8%;
  • Passenger load factor: 79.5%, +2.4 ppts;
  • Passenger yield: USD 13.70 cents, +5.1%;
  • Passenger revenue per ASM: USD 10.89 cents, +8.4%;
  • Operating cost per ASM: USD 12.46 cents, -0.5%;
    • Mainline: USD 11.34 cents, -2.9%;
  • Operating cost per ASM excl fuel*: USD 8.72 cents, +1.0%;
    • Mainline: USD 7.85 cents, +1.2%;
  • 2Q2010 Forecast:
    • Operating margin: +8% to +10%;
    • Capital expenditures: USD350 million;
    • Total liquidity at end of period: USD6,000 million;
    • Unit costs excl fuel: Flat to +2%;
      • Mainline: Flat to +2%;
    • Capacity (ASMs): Flat to +1%;
      • Mainline: Flat to +2%. [more]

*Also excluding special items

Delta Air Lines: "Our revenue performance for the quarter continues to build momentum, despite a USD65 million revenue impact from February's severe weather. We expect these trends to improve over the course of this year as business travel continues to return, capacity discipline is maintained and synergies from the merger are realized,” Ed Bastian, President. Source: Delta Air Lines, 20-Apr-2010.