The AC Delta disappoints, the stock drops
July 19, 2010 – 12:05 pmThe title Delta Air Lines, world's largest airline, plunged more than 9% Monday after the publication of a turnover that has disappointed investors.
If the group announced it had returned to profit in the second quarter, thanks to the resumption of air traffic, its turnover has increased by 17% to 8.17 billion, less than 8.25 billion expected by analysts surveyed by Thomson Reuters I / B / E / S.
The title Delta Airlines screwed over 9.13% to 10.65 dollars by 1500 GMT.
The company's net profit stood at 467 million dollars (360 million euros), or 55 cents per diluted share in the second quarter, after posting a net loss of $ 257 million, or 31 cents per share the previous year.
Excluding special charges, the group profit came in at 76 cents per share, against 63 cents expected by analysts polled by Reuters.
The revenue generated by passengers has increased by 19%, thanks to a better degree of filling devices.For the third quarter, the group expects a further increase in revenues.
The group said further glimpse of a growth in sales thanks to economic recovery, after two difficult years for the airline industry faces a sharp decline in demand.
If the company enjoys the benefits of economic recovery, it considers that the current environment is "good but not excellent."
According to Delta, the savings from the acquisition of Northwest Airlines in 2008 helped offset cost pressures in the quarter.
"The benefit of Delta during this quarter is our best result this decade and shows that our strategy positions us favorably in the context of economic recovery" commented Chief Executive Richard Anderson said in a statement.
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