Delta Air Lines operating profit up 10% in 1Q2016

Delta Air Lines revenue down 1% - financial highlights for three months ended 31-Mar-2016:

• Total operating revenue: USD9251 million, -1% year-on-year;
• • Passenger: USD7762 million, -2%;
  • Cargo: USD162 million, -25%;
• Total operating costs: USD7711 million, -3%;
• • Labour: USD2311 million, +10%;
  • Fuel: USD1227 million, -33%;
• Operating profit: USD1540 million, +10%;
• Net profit: USD946 million, +27%;
• Passenger traffic (RPMs): +3.3%;
• Passenger load factor: 82.1%, +0.4 ppt;
• Passenger yield: USD 16.26 cents, -5.1%;
• Passenger revenue per ASM: USD 13.35 cents, -4.6%;
• Operating revenue per ASM: USD 13.26 cents, -6.1%;
• Total assets: USD53,342 million;
• Cash and cash equivalents: USD1708 million;
• Total liabilities: USD42,090 million.

Delta Air Lines: "We are forecasting a unit revenue decline of 2.5 - 4.5 percent for the June quarter. While this is an improvement over our March quarter performance, we are focused on getting unit revenues back to a positive trajectory and we will make adjustments to our fall capacity levels if we are not making sufficient progress over the coming months," Glen Hauenstein, Incoming president. Source: Company statement, 14-Apr-2016.