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21-Oct-2010 1:06 PM

Delta profits surge in 3Q2010, expects to be profitable in 4Q2010

Delta Air Lines revenue jump 18% - financial/traffic highlights for the three months ended 30-Sep-2010:

  • Revenue: USD8,950 million, +18% year-on-year;
  • Operating costs: USD7,947 million, +8%;
    • Fuel: USD2,023 million, +3%;
    • Labour: USD1,669 million, -3%;
  • Operating profit: USD1,003 million, +391.7%;
  • Net profit: USD363 million, compared to a loss of USD161 million in p-c-p;
  • Cash and cash equivalents: USD3,436 million, -25.4% when compared to period ended 31-Dec-2009;;
  • Total assets: USD43,153 million, -0.9% when compared to period ended 31-Dec-2009;
  • Total debt and capital leases: USD15,365 million, -10.7%;
  • Passenger traffic (RPMs): +2%;
  • Passenger load factor: 85.9%, +0.1 ppt;
  • Passenger yield: USD 14.22 cents, +16%;
  • Passenger revenue per ASM: USD 12.21 cents, +16%;
  • Cost per ASM: USD 12.22 cents, +6%;
  • Cost per ASM excl fuel: USD 7.84 cents, stable;
  • 4Q2010 forecast:
    • Capacity: +5% to +7%;
      • Mainline: +6% to +8%;
        • Domestic: +5% to +7%;
        • International: +10% to +12%;
    • Cost per ASM excl fuel and profit sharing: -3% to -5%;
      • Mainline: -1% to -3%;
    • Operating margin: +6% to +8%;
    • Capital expenditure: USD300 million;
    • Cash: USD5,200 million. [more]

Delta Air Lines: “This quarter’s profit is evidence of the success of our merger. We are making progress toward our goal of consistent profitability with 10−12% annual operating margins and we expect to be profitable for the December quarter,” Richard Anderson,, CEO. Source: Delta, 20-Oct-2010.

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