Delta posts 3Q profit on international strength

Delta Air Lines Inc said on Wednesday it posted a profit in the third quarter and expects to repeat that in the last three months of the year, as the global travel recovery is driven by international growth.

Delta, the leading US carrier to Asia, made 54 per cent more money from passengers on flights to and through Asia this summer than a year ago.

It has added 12 new non-stop trans-Pacific routes since 2008.

Sales from flights over the Atlantic jumped by 25 per cent. Domestic and regional flight revenue grew the least, at 12 per cent apiece.

The Atlanta company had net income of US$363 million, or 43 cents per share, for the quarter. That compares with a year-earlier loss of US$161 million, or 19 cents a share.

Not counting one-time items, it recorded an adjusted profit of US$929 million, or US$1.10 a share.

Revenue rose 18 per cent to US$8.95 billion.

Thomson Reuters says analysts expected a profit of 94 cents per share on revenue of US$8.82 billion.

Passenger revenue rose 19 per cent on higher demand and ticket prices, while revenue from cargo shipments surged 28 per cent on higher volume and prices. Higher baggage fees also drove results.

In premarket trading on Wednesday, Delta shares rose 40 cents, or 3.4 per cent, to US$12.10.

- AP