Delta announces September quarter profit

Delta’s net income, excluding special items, for the September 2012 quarter was $768m. Delta’s September 2012 quarter GAAP net income was $1.0bn including mark-to-market gains on open fuel hedges and other special items. Delta’s unit revenues were up 3% for the quarter and the company has produced a unit revenue premium to the industry for eighteen consecutive months. Results included $174m in profit sharing expense, for a total of $309m year to date, in recognition of Delta employees’ efforts toward the company’s financial targets. In addition, Delta people have received $67m in Shared Rewards in 2012 for hitting the company’s operational and customer service targets. Delta ended the September 2012 quarter with $5.1bn in unrestricted liquidity and adjusted net debt of $11.9bn.