Delta Airlines announces N666b Q2 profit
Delta Air Lines has reported financial results for the June quarter 2017, pooling N666 billion ($1.85 billion) in adjusted pre-tax income for the period.The profit, according to the American airlines was a N61.9 billion ($172 million) increase from the June 2016 quarter, primarily driven by higher revenue.
Delta recorded a June quarter 2017 adjusted operating margin of 18.4 per cent. Delta delivered these results despite a N45 billion ($125 million) negative impact from the operational disruption following severe storms in Atlanta in early April.
Delta’s Chief Executive Officer, Ed Bastian, said the June quarter ranks among the best in Delta’s history, “as our people delivered top financial, operational, and customer satisfaction results – and it is an honor to recognise that performance with an additional N121.7 billion ($338 million) toward our 2017 profit sharing.”
Bastian added: “While 2017 is a transition period for Delta, we are encouraged by the improvement in unit revenues, leading to increasing conviction in our ability to expand margins as we move through the back half of the year.”
Delta’s President, Glen Hauenstein, added that the June quarter marked Delta’s return to unit revenue growth after two and a half years. Hauenstein said: “This improvement resulted from a strengthening demand environment and our commercial initiatives to provide customers more choice, an innovative experience, and a broader global network.
“We expect this momentum to continue in the September quarter, with passenger unit revenue growth of 2.5 to 4.5 per cent as we focus on driving a sustainable revenue premium to the industry.”
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