Delta sees double digit growth in cargo revenue in Q1

16 Apr 2018 12:53 PM | Anonymous

Original news was published 16 April, 2018

Atlanta-based Delta Airlines has registered 8 percent year-on-year increase in its operating revenue in the first quarter of the year.

The company reports operating revenue of $9.8 billion which it attributes to 23. 4 percent surge in revenue from the cargo division. In Q1 2018, cargo revenue stood at $202 million.

The adjusted pre-tax income for the March 2018 quarter was $676 million, a $104 million decrease from the previous year first quarter, as record revenues were offset by higher fuel prices and other increased costs including a $44 million impact from severe winter weather.

“The Delta people delivered a strong March quarter, and our record revenue was a direct result of the great service and operational reliability they provided for our customers,” said Ed Bastian, Delta’s chief executive officer. “We have confidence in our plan to grow earnings in 2018 through top-line growth, improving our cost trajectory, and leveraging our international partnerships.”

“We are seeing Delta’s best revenue momentum since 2014, with positive domestic unit revenues, improvements in all our international entities, strong demand for corporate travel and double-digit increases in our loyalty revenues,” said Glen Hauenstein, Delta’s president. “With our solid pipeline of commercial initiatives, delivered with industry-leading Delta service, we expect to maintain this momentum and deliver total revenue growth of 4 to 6 percent for the full year.”

*NEWS SOURCE