Delta Air Lines posts March 2018 quarter profit

Delta Air Lines has reported financial results for the March quarter 2018. Adjusted pre-tax income for the March 2018 quarter was US$676m, a US$104m decrease from the March 2017 quarter, as record revenues were offset by higher fuel prices and other increased costs including a US$44m impact from severe winter weather.

Delta’s adjusted operating revenue of US$9.8bn for the March quarter improved 8%, or US$715m versus the prior year. This revenue result marks a March quarter record for the company, and was driven by improvements across Delta’s business, including a 23% increase in cargo revenue and a US$78m increase in total loyalty revenue.

Delta generated US$1.3bn of operating cash flow, as the seasonal build of cash was partially offset by the US$1.1bn profit sharing payment to employees and a US$500m voluntary pension contribution in the March quarter, completing funding for the full year. Delta generated US$173m of free cash flow during the quarter, after the investment of US$1.2bn into the business primarily for aircraft purchases and improvements.

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