- Delta fuel costs rose 60pc in third quarter
- Adjusted revenue climbed 16pc to $17.6bn
- Adjusted operating margin fell to 9.4pc from 11.1pc
- Full-year profit forecast cut to $5.10 to $5.60 per share
- Thanksgiving tickets average $400, up 31pc
Delta Air Lines has reported strong demand despite higher fares and fuel costs. Jet fuel costs rose 60pc in the third quarter, adding $1.6bn in expenses. Passengers paid about 15pc more to fly, helping the airline post a small rise in adjusted net income.
Adjusted revenue climbed 16pc year-on-year to $17.6bn. Adjusted fuel expenses rose 62pc from the previous year to $4.1bn. Delta paid an average of $3.61 per gallon compared to $2.25 a year earlier. Adjusted operating profit margins fell from 11.1pc to 9.4pc. Adjusted earnings per share edged up to $1.72 from $1.70 last year. The airline cut its full-year profit forecast to $5.10 to $5.60 per share.
Chief Executive Ed Bastian shared that demand remains resilient. Premium seating revenue jumped 18pc. Planes were 86pc full across the quarter. Thanksgiving tickets are averaging $400, up 31pc. Christmas flights are up 23pc year-on-year. Delta expects fourth-quarter revenue growth of about 20pc.
