(Reuters) – Delta Air Lines Inc (N:) reported a 39.3% rise in quarterly profit on Thursday, as the second-largest U.S. carrier benefited from higher fares and flying fuller planes.
Supply constraint due to the extended grounding of the Boeing (NYSE:) 737 MAX planes is expected to help U.S. airlines that do not have the jet in their fleet, including Delta.
The company also raised its full-year profit forecast to between $6.75 and $7.25 per share from a previous range of $6 to $7 per share.
Net income rose to $1.44 billion, or $2.21 per share, in the quarter ended June 30 compared with $1.04 billion, or $1.49 per share, a year earlier.
On an adjusted basis, the airline earned $2.35 per share for the quarter. Analysts on average expected a profit of $2.28 per share, according to IBES data from Refinitiv.
Total operating revenue rose 6.5% to $12.54 billion.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
