Delta expects operating margin of 16.5% to 17.5% for 4Q2015

Delta Air Lines stated (05-Jan-2016) it expects an operating margin of 16.5% to 17.5% for 4Q2015, a year-over-year 4.5 point improvement. The carrier's unit revenues declined approximately 1.5% in 4Q2015, driven by 2 points of pressure from foreign exchange. Non-fuel unit costs for 4Q2015 are expected to increase 2% year-over-year, as foreign currency and the continued benefits from Delta's domestic refleeting and cost reduction initiatives have benefited unit costs. Non-operating expense includes a USD75 million write off of Delta's remaining Venezuelan currency holdings. The carrier's Dec-2015 quarter results will reflect a 36% tax rate. Delta expects approximately 786 million diluted and approximately 778 million basic weighted average shares outstanding. [more - original PR]