Delta Enjoys Improved Q1 Despite Net Loss
Delta Air Lines says the 1st Quarter of 2012 was the best it’s had in more than a decade.
Revenues were up 9%, compared to last year.
Even so, the Atlanta-based carrier reported a net loss of $39-million for the March quarter, excluding special items. Factoring in special items–mainly gains in fuel hedges–the airline earned $124-million.
During Wednesday’s investor conference call, CEO Richard Anderson said that’s a huge improvement over last year.
“We’re not obviously pleased with a loss for the quarter, but a $355-million pre-tax improvement [over Q1 2011] shows that our plan is working,” he says, adding the airline saw higher margins in every region and at all hubs.
Executives say the rest of the year also looks strong, despite sustained high fuel prices.
Meanwhile, Delta also reported record low numbers of lost baggage, better on-time performance, and customer complaints to the US Dept. of Transportation fell by more than half.
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