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  • Delta 2015 operating profit more than doubles to $7.8bn

Delta 2015 operating profit more than doubles to $7.8bn

Delta Air Lines reports an operating profit of $7.8 billion in 2015, more than double its profit of $2.21 billion the year prior.

Operating revenues increased 1% to $40.7 billion and operating expenses decreased 14% to $32.9 billion during the year. Operating fuel expenses fell $5.12 billion, or 44%, to $6.54 billion.

Net profit increased more than three-fold to $4.53 billion.

Passenger revenue per available seat mile (PRASM) decreased 3% to 14.1 cents while costs per available seat mile (CASM) excluding fuel and special items were flat at 9.17 cents in 2015.

Delta paid an average of $2.23 per gallon for fuel during the year, a 22% drop from 2014.

Consolidated traffic and capacity both increased 3% in 2015.

In the fourth quarter, Delta’s operating revenues decreased 2% to $9.5 billion and operating expenses decreased 26% to $7.79 billion. Operating profit was $1.72 billion, reversing an operating loss of $828 million a year ago.

Net profit was $980 million during the final three months of 2015, also a reverse of a net loss during the same period in 2014.

PRASM decreased 2% to 13.96 cents, driven by a 1.4% decrease in consolidated domestic PRASM and a 6.6% decrease in Latin American PRASM.

CASM excluding fuel and special items increased 2% to 9.52 cents in the fourth quarter.

Delta paid an average of $1.85 per gallon for fuel during the period, a 29% drop. This includes a $54 million fuel hedge loss.

Traffic increased 3% on flat capacity in the fourth quarter.

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