Delta posts $467M 2Q profit
Delta Air Lines reversed a second-quarter loss with with what it says is its largest quarterly profit in a decade, thanks to strong passenger revenue.
The world's largest airline said Monday its net income was $467 million, or 55 cents per share, in the April-June quarter. That compares to a loss of $257 million, or 31 cents a share, a year earlier.
It says revenue rose 17 percent to $8.17 billion from $7.00 billion a year earlier.
Excluding one-time items, Delta says its earnings came to 65 cents a share. On that basis, analysts were expecting earnings of 63 cents a share on revenue of $8.25 billion.
Delta had $6.0 billion in unrestricted liquidity as of June 30. Its third-quarter capacity will be flat to up 2 percent.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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