ATLANTA (dpa-AFX) - Delta Air Lines, Inc. (DAL) on Wednesday reported a net income for the third quarter of $652 million or $1.02 per share, down from $1.44 billion or $2.21 per share in the 2019 June quarter.
Excluding items, adjusted earnings for the quarter was $1.07 per share, compared to $2.35 per share in the same quarter of 2019. On average, 17 analysts polled by Thomson Reuters expected the company to report a loss of $1.40 per share for the quarter. Analysts' estimates typically exclude special items.
Pre-tax income for the quarter was $776 million, down 59 percent from $1.91 billion in 2019 June quarter. Adjusted pre-tax loss was $881 million, compared to adjusted pre-tax income of $2.0 billion in the 2019 June quarter
Total operating revenue for the quarter declined 43 percent to $7.13 billion from $12.54 billion in the same quarter of 2019. Adjusted revenue dropped 49 percent to $6.35 billion from 2019 June quarter. Analysts expected revenue of $6.20 billion for the quarter.
Passenger revenues for the quarter declined 53 percent to $5.34 billion from the same quarter in 2019.
The airline noted that domestic leisure travel is fully recovered to 2019 levels and there are encouraging signs of improvement in business and international travel.
Looking ahead to the third quarter, the company expects revenues to decline 30 to 35 percent and capacity to be down 28 to 30 percent.
Copyright RTT News/dpa-AFX
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