Thursday, 25 July 2013

Delta Quarterly Profit Up As Fuel Costs Drop

Delta Air Lines reported a higher-than-expected quarterly profit on Wednesday as fuel costs fell and it held down other expenses.
The carrier said "solid" travel demand trends would help it expand profit margins.
Delta is expanding in high-growth markets and has upgraded aircraft seats and food options to entice passengers to spend more. It recently bought a stake in British carrier Virgin Atlantic that will give it more access at London's Heathrow Airport, an important international business market.
The airline, which in May announced its first dividend in a decade and a USD$500 million share buyback programme, bought a Pennsylvania refinery last year to try to gain more control over its fuel costs. The refinery had a loss of USD$51 million in the second quarter because of costs related to US renewable fuel standards. But Delta added it was reducing fuel costs.

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