Delta Air Lines announces March quarter profit of $85m

Delta’s net profit for the March 2013 quarter was $85m, excluding special items. This result is a $124m improvement year-over-year. Including $78m in special items, Delta’s GAAP net income was $7m. Results include $20m of profit sharing expense in recognition of Delta employees’ contributions to the company’s financial performance. Delta generated $1.1bn of operating cash flow and $457m of free cash flow in the March 2013 quarter, and ended the period with adjusted net debt of just under $11.0bn.