18 APRIL 2016
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Two incoming top executives at Delta Air Lines had a special welcome last week when the company reported a pre-tax income of US$1.56bn for the first quarter of 2016. The result represented a US$966m increase over Q1 last year.
Ed Bastian, the carrier’s new chief executive officer, said: “We have started 2016 with tremendous momentum.”
As well as increasing its income, he said, Delta had delivered “industry-leading operations” including 49 days of perfect mainline completion factor for its customers, and had reached its goal of becoming an investment-grade company.
“We will continue to be disciplined with our business in the face of volatile fuel prices, strengthen our foundation, and prove our position as the airline that consistently delivers top results,” Bastian added.
Although foreign currency pressures and a US$5m impact from events in Brussels caused some downturn, Delta’s incoming president Glen Hauenstein also struck a positive note.
“The momentum with our commercial initiatives, including corporate share gains, Branded Fares and our partnership with American Express, allowed us to maintain our top line performance in the March quarter,” he said.
Delta was focused on returning unit revenues to a positive trajectory and would adjust autumn capacity levels if sufficient progress had not been made, he added. www.delta.com
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