Delta Air Lines Airbus A330-300
Delta Air Lines reported first-quarter net income of $7 million, down 94% from a net profit of $124 million in the year-ago period, on a 1% year-over-year rise in revenue to $8.5 billion.
Delta said its quarterly net profit was affected by $102 million in special charges for facilities, fleet and other items. It also recorded $24 million in mark-to-market gains for fuel hedges. Absent special items, the carrier recorded a first-quarter net profit of $85 million, which CEO Richard Anderson said marked “Delta's strongest March quarter financial … performance in over a decade.” He added that the airline is “well positioned to generate significant improvements in Delta’s profitability going forward.”
Delta’s first-quarter operating expenses increased 3% year-over-year to $8.28 billion and operating profit was $222 million, down 42% from $382 million in operating income in the 2012 first quarter.
Delta’s first-quarter consolidated traffic lowered 1% year-over-year to 43.08 billion RPMs on a 3% cut in capacity to 53.02 billion ASMs, producing a load factor of 81.2%, up 1.5 points. Passenger yield increased 2% to 17.02 cents.