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Delta reports improved profits; expects double-digit unit revenue growth in 3Q2010

20-Jul-2010 1:25 PM

Delta Air Lines revenue up 17% - consolidated financial/traffic highlights:

  • Three months ended 30-Jun-2010:
    • Total operating revenue: USD8,168 million, +17% year-on-year;
    • Total operating costs: USD7,316 million, +5%;
      • Fuel: USD1,960 million, +8%;
      • Labour: USD1,702 million, -1%;
    • Operating profit: USD852 million, compared with a profit of USD1 million in p-c-p;
    • Net profit: USD467 million, compared with a loss of USD257 million in p-c-p;
    • Passenger traffic (RPMs): +1.7%;
    • Passenger load factor: 85.0%, +1.9 ppt;
    • Passenger yield: USD 14.05 cents, +16.7%;
    • Passenger revenue per ASM: USD 11.94 cents, +19.4%;
    • Operating costs per ASM: USD 12.18 cents, +5.4%;
    • Costs per ASM excl fuel: USD 8.08 cents, +0.2%;
  • Six months ended 30-Jun-2010:
    • Total operating revenue: USD15,016 million, +10%;
    • Total operating costs: USD14,096 million, -0.5%;
      • Fuel: USD3,643 million, -2%;
      • Labour: USD3,374 million, -2%;
    • Operating profit: USD920 million, compared with a loss of USD482 million in p-c-p;
    • Net profit: USD211 million, compared with a loss of USD1,051 million in p-c-p;
    • Passenger traffic (RPMs): +0.3%;
    • Passenger load factor: 82.4%, +2.2 ppts;
    • Passenger yield: USD 13.89 cents, +11.1%;
    • Passenger revenue per ASM: USD 11.44 cents, +14.2%;
    • Operating costs per ASM: USD 12.31 cents, +2.4%;
    • Costs per ASM excl fuel: USD 8.38 cents, +0.4%;
  • 3Q2010 forecast:
    • Operating margin: 10% to 12%;
    • Costs per ASM excl fuel and profit sharing: stable;
      • Mainline: +2%;
    • Capacity (ASMs): +2%;
      • Mainline: +1% to +3%. [more]

Delta: "We are seeing strong improvements in these early stages of the economic recovery and believe there's room for more revenue growth as the economy continues to stabilise. We anticipate double-digit year over year unit revenue gains for the September quarter,” Ed Bastian, President. Source: Delta Air Lines, 19-Jul-2010.