Delta Air Lines has reported financial results for the June quarter 2018. Adjusted pre-tax income for the June quarter 2018 was US$1.6 billion, a US$183 million decrease from the June 2017 quarter, as record revenues partially offset the approximately US$600 million impact of higher fuel prices. Delta’s adjusted operating revenue of US$11.6 billion for the June quarter improved 8%, or US$880 million versus the prior year. This quarterly revenue result marks a record for the company, driven by improvements across Delta’s business, including double-digit increases in both cargo and loyalty revenue.
Total unit revenues excluding refinery sales (TRASM) increased 4.6% during the period driven by strong demand across all entities and improving yields. Foreign exchange drove a nearly one point benefit to the quarter.
Delta generated US$2.8 billion of operating cash flow and US$1.4 billion of free cash flow during the quarter, after the investment of US$1.4 billion into the business primarily for aircraft purchases and improvements.
For the June quarter, Delta returned US$813 million to shareholders, comprised of US$600 million of share repurchases and US$213 million in dividends.
