Delta Air Lines predicts 2011 profit of $800M

AP News
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Posted: Dec 14, 2011 5:29 PM
Delta Air Lines predicts 2011 profit of $800M

Delta Air Lines Inc. said Wednesday that it expects an $800 million profit this year, and it will be solidly profitable in 2012.

The company said in a filing that it will earn $1.1 billion in 2011 if special items are excluded. Analysts surveyed by FactSet were expecting adjusted net income of $977 million.

Delta had earned $429 million through the first nine months of this year.

Delta CEO Richard Anderson said that airline will be profitable next year even as fuel prices remain higher than historic averages. He was speaking in New York at the company's annual investor conference.

The Atlanta-based airline is also repeating its prediction that it will cut 2012 flying by 2 to 3 percent.

Shares in Delta ended Wednesday up 16 cents, or 2 percent, at $8.15, bucking a broad market decline.