Delta Air Lines operating profit up 52% on cost declines in 3Q2012

Delta Air Lines revenue up 1% - financial highlights for three months ended 30-Sep-2012:

• Total operating revenue: USD9923 million, +1% year-on-year;
• Total operating costs: USD8615 million, -4%;
  • Fuel: USD2221 million, -23%;
  • Labour: USD1850 million, +8%;
• Operating profit: USD1308 million, +52%;
• Net profit: USD1047 million, +91%;
• Passenger traffic (RPMs): -1%;
• Passenger load factor: 86.4%, +0.3 ppt;
• Passenger yield: USD 16.15 cents, +3%;
• Passenger revenue per ASM: USD 13.96 cents, +3%;
• Cost per ASM: USD 13.83 cents, -2%;
• Total assets: USD44,352 million, +2.0% when compared to period ended 31-Dec-2011;
• Cash and cash equivalents: USD2274 million, -14.4% when compared to period ended 31-Dec-2011;
• Total debt and capital leases: USD12,657 million, -8.2% when compared to period ended 31-Dec-2011;
• 4Q2012 forecast:
  • Average fuel price: USD3.15 to USD3.20;
  • Operating margin: 4% to 6%;
  • Capital expenditure: USD450 million to USD550 million;
  • Total liquidity: USD5200 million;
  • Cost per ASM excl fuel and profit sharing: +5% to +7%;
  • Capacity (ASMs): -1% to -3%;
    • Domestic: -1% to -3%;
    • International: -2% to -4%. [more - original PR]

Delta Air Lines: "We expect our revenue performance to benefit from our continued capacity discipline and further corporate travel gains and we are forecasting our October unit revenues to increase 4 - 5% year over year," Ed Bastian, President. Source: Company statement, 24-Oct-2012.