Delta Air quarterly profit surges 39% on higher fares
Reuters
Published Jul 11, 2019 07:04AM ET
Delta Air quarterly profit surges 39% on higher fares
(Reuters) - Delta Air Lines Inc (N:DAL) reported a 39.3% rise in quarterly profit on Thursday, as the second-largest U.S. carrier benefited from higher fares and flying fuller planes.
Supply constraint due to the extended grounding of the Boeing (NYSE:BA) 737 MAX planes is expected to help U.S. airlines that do not have the jet in their fleet, including Delta.
The company also raised its full-year profit forecast to between $6.75 and $7.25 per share from a previous range of $6 to $7 per share.
Net income rose to $1.44 billion, or $2.21 per share, in the quarter ended June 30 compared with $1.04 billion, or $1.49 per share, a year earlier.
On an adjusted basis, the airline earned $2.35 per share for the quarter. Analysts on average expected a profit of $2.28 per share, according to IBES data from Refinitiv.
Total operating revenue rose 6.5% to $12.54 billion.
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Written By: Reuters
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