Delta Air Lines posts record Q3 revenues of $12B

Business 10/11/2018, 1:09 PM
Delta Air Lines posts record Q3 revenues of $12B

The United States air carrier Delta Air Lines announced on Thursday its diluted earnings per share stood at $1.91 in the third quarter of 2018, marking an 18% increase compared to the same three-month period last year. Net income came in 13.2% higher annually to reach $1.3 billion on record revenue of $12 billion, 8% more than a year ago. The company noted that the results reflect a $30 million negative impact from hurricane Florence, while record-breaking quarterly revenue was driven by improvements across Delta’s business, including a nearly 20% increase in premium product ticket revenues.

"Our solid eight percent revenue growth, combined with flat non-fuel unit cost performance, helped offset 85 percent of the $655 million fuel cost increase in the quarter," said Ed Bastian, Delta’s chief executive officer. At the same time, Delta's president Glen Hauenstein attributed record September revenues to "strong demand across the business and a favorable yield environment." "In the December quarter we expect total unit revenue growth of three to five percent, driving full year revenue growth to eight percent, the high end of our guidance,” he added.

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