Delta Air Lines has reported financial results for the December 2012 quarter.
Key points include:
- Net income for the December 2012 quarter was US$238 million, or $0.28 per diluted share, excluding special items. Results include the $100 million negative impact of Superstorm Sandy on airline and refinery operations.
- Net income for 2012 was $1.6 billion, excluding special items, a $362 million increase over 2011.
- GAAP net income was $7 million, or $0.01 per diluted share, for the December 2012 quarter and $1.0 billion for 2012.
- Unit revenues were up 4.3% for the quarter and the company’s unit revenue gains have outperformed the industry for 21 consecutive months.
- 2012 results include $372 million in profit sharing expense, including $63 million in the December quarter, recognising Delta employees’ contributions toward meeting the company’s financial goals.
- Adjusted net debt at the end of 2012 was $11.7 billion, a $5.3 billion reduction from 2009.
“Our December quarter profit caps off a successful 2012 for Delta with strong financial results, industry-leading operational performance, and across the board improvements in customer satisfaction,” said Richard Anderson, Chief Executive. “I want to thank our employees and I look forward to recognising them next month with $372 million of profit sharing for 2012.”
“We enter 2013 as a stronger airline, with initiatives in place to build on our 2012 success. In the year ahead, we will advance our position around the world and continue to build a better airline for our shareholders, customers and employees.”