Fare hikes help Delta fly high

City A.M. Reporter
DELTA Air Lines yesterday reported a higher-than-expected quarterly profit as fare increases and strength in the US and Europe boosted revenue.

For the current quarter, Delta forecast an operating margin, a measure of income to costs, of seven per cent to nine per cent. Net income came to $1.37bn (£843m), or $1.59 a share, in the quarter, compared with $1.05bn, or $1.23 a share, a year earlier. Excluding a fuel-hedging gain and a charge from changes in Delta’s fleet, profit was $1.41 a share.