Delta Air Lines has reported financial results for the September 2011 quarter, recording net income of $765 million, or $0.91 per diluted share.
Strong top line revenue growth of ten per cent year over year helped offset the $1 billion impact of higher fuel prices.
Results include $167 million in profit sharing expense, in recognition of Delta employees’ achievements toward meeting the company’s financial targets, bringing total profit sharing expense for the year to date to $175 million.
The company ended the September 2011 quarter with $5.1 billion in unrestricted liquidity.
“We are successfully adapting Delta to the challenging economic environment by producing a solidly profitable quarter in the face of $1 billion of fuel price pressure,” said Richard Anderson, Delta’s chief executive officer.
“Delta people worldwide are committed to building a leading global airline.
Delta’s operating revenue grew $866 million, or ten per cent, in the three months to September 2011 compared to the September 2010 quarter.
Load factor increased to 86.1 per cent, with traffic flat on a 1% decrease in capacity.
Passenger revenue increased 10 per cent, or $793 million, compared to the prior year period.