Delta reports higher quarterly profit

A Delta Air Lines jet takes off past a Northwest Airline jet parked at the gates of the Minneapolis St. Paul International Airport in Minneapolis, Minn., on Oct. 30, 2008.

 

Delta Air Lines Inc. reported a higher quarterly profit on Wednesday as fare increases helped offset a 20 percent rise fuel prices.

Net income came to $425 million, or 50 cents a share, in the fourth quarter, compared with $19 million, or 2 cents a share, a year earlier.

Revenue rose 8 percent to $8.4 billion. Passenger revenue per available seat mile rose 12 percent.

Aircraft fuel expenses jumped 5 percent. Delta consumed less fuel in the quarter, but average fuel prices shot up about 20 percent.

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