January 22, 2013
Delta Air Lines posts December quarter profit
Delta Air Lines reported financial results for the December 2012 quarter. Delta’s net income for the December 2012 quarter was $238m, excluding special items. Results include the $100m negative impact of Superstorm Sandy on airline and refinery operations. Delta’s net income for 2012 was $1.6bn, excluding special items, a $362m increase over 2011. Delta’s GAAP net income was $7m for the December 2012 quarter and $1.0bn for 2012. Delta’s unit revenues were up 4.3% for the quarter and the company’s unit revenue gains have outperformed the industry for 21 consecutive months. 2012 results include $372m in profit sharing expense, including $63m in the December quarter, recognizing Delta employees’ contributions toward meeting the company’s financial goals. Delta’s adjusted net debt at the end of 2012 was $11.7bn, a $5.3bn reduction from 2009.