Business Services Industry
Delta Air Lines Reports Quarterly Profit Gain.
Knight Ridder/Tribune Business News, April, 1999 by Thurston, Scott
Knight Ridder/Tribune Business News
Apr. 16 -- Delta Air Lines posted a 10.8 percent gain in quarterly profits, aided by low fuel prices and a February pilot sickout at American Airlines that forced cancellations.
Atlanta-based Delta posted net income of $216 million, or $1.42 a share, for its third quarter ended in March, compared with $195 million, or $1.23 a share, a year earlier. Operating profit margin rose to 10.2 percent from 10 percent.
The results beat First Call's consensus estimate of $1.29.
Revenue for the quarter rose to $3.5 billion from $3.39 billion.
Delta told analysts it gained $35 million in extra revenue as a result of flight cancellations at American. Delta, as the second-biggest carrier at Dallas-Fort...
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