Delta Air Lines using less fuel, posting bigger profits - New York News

Delta Air Lines using less fuel, posting bigger profits

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ATLANTA (AP) -- Delta Air Lines is spending less on fuel these days, and that's helping the airline make money even though passengers aren't doing much more flying.
 
Delta said Wednesday that net income in the second quarter was $685 million, or 80 cents per share. That compares with a $168 million loss a year earlier, when the world's second-biggest airline was weighed down by accounting losses on fuel-price bets.
 
Excluding special items, Delta says it earned 98 cents per share. That beats analysts' forecast of 95 cents per share.
 
Revenue was about flat at $9.71 billion -- $300 million less than analysts expected -- as traffic rose only 0.5 percent.
 
Delta's fuel bill was $2.6 billion, or $710 million less than a year ago, when it took a $561 million fuel-hedging loss.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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