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September 2022, Virtual
September 29 2022, Virtual
Delta Air Lines has reported a $1.2 billion third quarter profit, confirming the US carrier’s financial recovery.
The figure, for the three months to the end of September, comes in the Atlanta-based airline’s most profitable period and is an improvement of $444m year on year. The airline further signalled its healthy financial position by returning $100m to shareholders and paying dividends totalling $51m.
Chief executive Richard Anderson said the results represented work done over the last five years. These included international expansion, retraction on some domestic routes and synergies achieved following the merger with Northwest Airlines.
Delta’s biggest revenue growth came from Latin America, which increased 16 per cent. The next biggest was transatlantic, with a 9 per cent increase. The only decrease was on Pacific routes, down 5 per cent.
The airline was further helped by a $81m fall in fuel bills as a result of lower market prices and better hedging. Delta also has its own refinery, which produced a $3m profit.