Delta Air Lines announces $379m quarterly profit

Delta’s net income for the December 2011 quarter was $379m excluding special items, a $221m improvement year over year. Delta’s net income for 2011 was $1.2bn, excluding special items, as the company offset $3bn higher fuel expense through strong revenue performance and its fuel hedging program. Delta’s GAAP net income was $425m for the December 2011 quarter and $854m for 2011. 2011 results include $264m in profit sharing expense, including $89m in the December quarter. Delta’s adjusted net debt at the end of 2011 was $12.9bn, a $4.1bn reduction from 2009.