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.