Delta's first quarter net income down 36%

Delta Air Lines reported financial results for the March quarter 2017. Adjusted pre-tax income for the March 2017 quarter was US$847m, a US$713m decrease from the March 2016 quarter, primarily driven by higher fuel prices. Severe weather in Atlanta caused significant disruptions to Delta’s operations in the first week of April. The company cancelled approximately 4,000 flights as a result of the weather and the subsequent operational recovery. Delta currently estimates the storm will reduce its June quarter pre-tax income by US$125m. Delta’s operating revenue for the March quarter was down US$103m versus prior year, including US$20m of lower year over year currency hedge gains. Passenger unit revenues declined 0.5% on 0.5% lower capacity.