Delta May PRASM up 6%
Delta Air Lines (NYSE: DAL) today reported financial and operating performance for May 2012.
Delta's consolidated passenger unit revenue (PRASM) increased 6 percent for the month of May as compared to the prior year. While lower than recent guidance by one point, May's performance is strong when viewed in the context of an exceptional May performance in 2011. The variance to recent guidance is due primarily to the impact from competitor fare actions in the second half of the month. Delta expects strong peak season revenue performance.
System load factor increased 0.2 points on a 0.9 percent reduction in capacity.
The company's fuel price per gallon was $3.37 for the month.
Delta had strong operational performance during the month. Delta's completion factor of 99.7 percent was 0.2 points higher than prior year, and its on-time performance improved 3.7 points to 86.4 percent.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.