Delta Air Unit Revenue Decline Slowed in September
October 04 2016 - 10:50AM
Dow Jones News
Delta Air Lines Inc. reported a smaller year-to-year decline in
unit revenue in September than in previous months, citing
moderating near-term yield pressures in its domestic business amid
reduced capacity for autumn.
The Atlanta-based company's shares, down 19% this year, rose
2.3% to $40.88 in early trading.
Unit revenue—a measure of how much an airline takes in for each
passenger flown a mile—fell 3% during September from a year
earlier. Delta also cited continued pressures related to its
trans-Atlantic segment and prior-year hedging gains related to the
Japanese yen.
Delta had reported a decrease of 9.5% in unit revenue for August
and a decline of 7% for July.
Delta said its passenger traffic rose 1.4% during September as
capacity increased 1.8%. The percentage of seats filled—or load
factor—dropped to 84.6% from 85% .
Separately, Delta said in an investor update that cost controls
and productivity efforts helped the carrier maintain its
third-quarter outlook despite an August computer outage that forced
the airline to cancel more than 2,100 flights over three days.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
October 04, 2016 10:35 ET (14:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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