Delta Flies High on Record Profits
Atlanta-based Delta Airlines Wednesday reported a record profit for the first three months of this year. That’s despite a tough start to 2014.
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Delta canceled 17,000 flights in January and February due to relentless winter weather, or about twice the number of flights the carrier canceled in all of 2013.
“But for the weather, we would’ve had a $500-million pre-tax profit in the seasonally most-difficult quarter of the year,” said Delta CEO Richard Anderson on an investor call. “And that says a lot of the franchise we have here at Delta.”
The airline still made a record $444-million before taxes, and a net profit of $281-million, the airline reported.
Executives say that’s largely due to a bump in both the number of passengers flying Delta, and the amount of money they’re spending.
The strong showing is also a plus for employees. Delta is setting aside $99-million for employee profit sharing.
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