Delta Air April Traffic Up 1.1%
Delta Air Lines (NYSE: DAL) today reported strong financial and operating performance for April 2012.
Delta's consolidated passenger unit revenue (PRASM) increased 11 percent for the month of April as compared to the prior year. During the month, Delta saw strong unit revenue improvement across all entities, driven by capacity discipline, corporate booking strength, and benefits from investments in products and services.
System traffic increased 1.1 percent on a 1.3 percent reduction in capacity, resulting in a 2.0 point improvement in load factor.
The company's fuel price per gallon was $3.44, consistent with expectations underlying recent second quarter fuel guidance. Delta expects to realize the majority of June quarter's hedge benefits in May and June.
Delta continued to make significant improvements in its operational performance during the month. Delta's completion factor of 99.8 percent was 0.8 points higher than prior year, and its on-time performance improved 12.6 points to 90.9 percent.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.