2014

Delta Reports Financial and Operating Performance for March 2014

ATLANTA, April 2, 2014 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) today reported financial and operating performance for March 2014.

Consolidated passenger unit revenue (PRASM) for the month of March increased 1.0% year over year with continued strength in the Domestic entity.  The calendar placement of the Easter holiday has resulted in a shift of revenue between March and April.  Unit revenues for March and April combined are expected to increase 3% – 4% year over year.

Delta completed 99.8 percent of its flights in March and ran an on-time arrival rate of 84.3 percent.

The company's financial and operating performance is detailed below.

Preliminary Financial and Operating Results

 

March consolidated PRASM change year over year

1.0%

Projected  quarter fuel price per gallon, adjusted

$3.02 - $3.07

March mainline completion factor

99.8%

March on-time performance (preliminary DOT A14)

84.3%

Note: Fuel price includes taxes, transportation, settled hedges, hedge premiums and refinery impact, but excludes mark to market adjustments on open hedges.

Delta Air Lines serves nearly 165 million customers each year. This year, Delta was named the 2014 Airline of the Year by Air Transport World magazine and was named to FORTUNE magazine's top 50 Most Admired Companies in addition to being named the most admired airline for the third time in four years. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 319 destinations in 57 countries on six continents. Headquartered in Atlanta, Delta employs nearly 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry's leading trans-Atlantic joint venture with Air France-KLM and Alitalia as well as a newly formed joint venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with hubs in Amsterdam, Atlanta, Cincinnati, Detroit, Minneapolis-St. Paul, New York-JFK, New York-LaGuardia, Paris-Charles de Gaulle, Salt Lake City and Tokyo-Narita. Delta has invested billions of dollars in airport facilities, global products, services and technology to enhance the customer experience in the air and on the ground. Additional information is available on delta.com, Twitter @Delta, Google.com/+Delta, Facebook.com/delta and Delta's blog takingoff.delta.com.

Forward Looking Statements

Statements in this press release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements.  These risks and uncertainties include, but are not limited to, the cost of aircraft fuel; the availability of aircraft fuel; the impact of posting collateral in connection with our fuel hedge contracts; the impact of significant funding obligations with respect to defined benefit pension plans;  the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our dependence on technology in our operations; disruptions or security breaches of our information technology infrastructure; the ability of our credit card processors to take significant holdbacks in certain circumstances; the possible effects of accidents involving our aircraft; the effects of weather, natural disasters and seasonality on our business; the effects of an extended disruption in services provided by third party regional carriers; failure or inability of insurance to cover a significant liability at the Trainer refinery; the impact of environmental regulation on the Trainer refinery, including costs related to renewable fuel standard regulations; our ability to retain management and key employees; competitive conditions in the airline industry; the effects of extensive government regulation on our business; the effects of terrorist attacks; the effects of the rapid spread of contagious illnesses; and the costs associated with war risk insurance.  

Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2013.  Caution should be taken not to place undue reliance on our forward-looking statements, which represent our views only as of April 2, 2014, and which we have no current intention to update.

 




Monthly Traffic Results (a)


Year to Date Traffic Results (a)




































Mar 2014


Mar 2013


Change



Mar 2014


Mar 2013


Change


















RPMs (000):















Domestic

10,520,988


10,110,006


4.1%



26,714,434


25,978,449


2.8%




Delta Mainline

8,596,191


8,164,584


5.3%



21,773,314


20,967,967


3.8%




Regional

1,924,796


1,945,422


(1.1%)



4,941,121


5,010,482


(1.4%)



International

6,594,184


6,366,176


3.6%



17,885,100


17,099,340


4.6%




Latin America

1,801,830


1,517,366


18.7%



4,801,913


3,978,307


20.7%




Delta Mainline

1,768,441


1,502,773


17.7%



4,709,919


3,929,015


19.9%




       Regional

33,389


14,593


128.8%



91,994


49,292


86.6%




Atlantic

2,665,826


2,749,156


(3.0%)



7,132,999


7,178,255


(0.6%)




Pacific

2,126,528


2,099,654


1.3%



5,950,188


5,942,778


0.1%



Total System

17,115,172


16,476,182


3.9%



44,599,534


43,077,789


3.5%


















ASMs (000):















Domestic

12,174,480


11,905,607


2.3%



32,040,132


31,919,090


0.4%




Delta Mainline

9,785,100


9,409,897


4.0%



25,623,922


25,168,049


1.8%




Regional

2,389,380


2,495,710


(4.3%)



6,416,211


6,751,041


(5.0%)



International

7,883,965


7,538,961


4.6%



21,865,455


21,102,672


3.6%




Latin America

2,154,845


1,813,018


18.9%



5,730,048


4,816,409


19.0%




Delta Mainline

2,110,073


1,792,735


17.7%



5,603,847


4,747,251


18.0%




       Regional

44,771


20,283


120.7%



126,200


69,158


82.5%




Atlantic

3,238,921


3,252,415


(0.4%)



9,118,259


9,247,363


(1.4%)




Pacific

2,490,199


2,473,528


0.7%



7,017,149


7,038,900


(0.3%)



Total System

20,058,445


19,444,568


3.2%



53,905,587


53,021,762


1.7%


















Load Factor:















Domestic

86.4%


84.9%


1.5

pts


83.4%


81.4%


2.0

pts



Delta Mainline

87.8%


86.8%


1.0

pts


85.0%


83.3%


1.7

pts



Regional

80.6%


78.0%


2.6

pts


77.0%


74.2%


2.8

pts


International

83.6%


84.4%


(0.8)

pts


81.8%


81.0%


0.8

pts



Latin America

83.6%


83.7%


(0.1)

pts


83.8%


82.6%


1.2

pts



Delta Mainline

83.8%


83.8%


0.0

pts


84.0%


82.8%


1.2

pts



       Regional

74.6%


71.9%


2.7

pts


72.9%


71.3%


1.6

pts



Atlantic

82.3%


84.5%


(2.2)

pts


78.2%


77.6%


0.6

pts



Pacific

85.4%


84.9%


0.5

pts


84.8%


84.4%


0.4

pts


Total System

85.3%


84.7%


0.6

pts


82.7%


81.2%


1.5

pts

















Mainline Completion Factor

99.8%


99.3%


0.5

pts
























Passengers Boarded

14,980,473


14,392,671


4.1%



38,160,763


37,238,582


2.5%


















Cargo Ton Miles (000):

204,165


208,192


(1.9%)



535,610


562,886


(4.8%)


















Results include flights operated under contract carrier arrangements





 

Non-GAAP Reconciliation

Delta sometimes uses information ("non-GAAP financial measures") that is derived from the Consolidated Financial   Statements, but that is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Under the U.S. Securities and Exchange Commission rules, non-GAAP financial measures may be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. The tables below show reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures.

Average Fuel Price per Gallon, Adjusted

Delta excludes mark-to-market adjustments for fuel hedges recorded in periods other than the settlement period ("MTM adjustments") from average price per fuel gallon because excluding these adjustments allows investors to better understand and analyze Delta's costs for the periods reported. MTM adjustments are based on market prices as of the end of the reporting period for contracts settling in future periods. Such market prices are not necessarily indicative of the actual future value of the underlying hedge in the contract settlement period.

 










(Projected)





Three Months Ended

Consolidated



March 31, 2014

Average fuel price per gallon



 $3.06 to $3.11

MTM adjustments



(0.04)

Average fuel price per gallon, adjusted



 $3.02 to $3.07

 

Logo - http://photos.prnewswire.com/prnh/20090202/DELTALOGO

SOURCE Delta Air Lines



RELATED LINKS
http://www.delta.com

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.