Delta Third Quarter Profit Drops 4 Percent

Delta Air Lines posted net earnings of USD$1.26 billion for the third quarter, down 4 percent from the same period last year.

Revenue for the quarter was USD$10.483 billion, down 5.6 percent from the previous year. The drop was partly attributable to a computer outage in early August and currency hedge gains last year.

Delta paid $1.48 for each gallon of aviation fuel during the quarter, a saving of USD$424 million for the three months. The airline forecast an increase in fuel costs for the fourth quarter, however, to between $1.60 and $1.65, including taxes.

Capacity was up 1.5 percent for the September quarter and Delta plans to limit growth for the December quarter.

"We will be taking a cautious approach to 2017 by keeping our capacity in line with the December quarter's 1 percent growth level", chief executive Ed Bastian said.

The Atlanta-based carrier said passenger unit revenue in the fourth quarter would be down 3 percent - 5 percent, compared to last year.