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Delta overcame rising oil prices by hiking fares

Hurricane Florence and higher fuel prices proved no big deal for Delta Air Lines. Profit grew after the comp...

Posted: Oct 11, 2018 1:52 PM
Updated: Oct 11, 2018 1:52 PM

Hurricane Florence and higher fuel prices proved no big deal for Delta Air Lines. Profit grew after the company raised fares and sold more seats on its planes.

The airline said fuel cost it $655 million more in the third quarter than a year earlier -- as fuel prices rose 37%. And disruptions from Hurricane Florence cost it another $30 million.

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But Delta's profit was still up $127 million in the quarter. That's because the average amount paid by passengers to fly each mile rose by 4%, and the number of miles traveled by paying customers also rose 4%. Together that lifted sales by $892 million, offsetting the hit from fuel.

The airline said it expects more of the same in the final three months of the year. Fuel prices are again expected to be up 30% from a year earlier. But the airline said that fares should also be up between 3% to 5% from last year.

Delta is the first major US airline to report its third-quarter finances and is something a bellwether for the industry. The fare results and guidance were particularly good news for airline investors, if not for passengers.

Shares of Delta (DAL) rose 4% Thrusday and the report and shares of industry leader American Airlines (AAL) were also higher. Most of the other major airline stocks were little changed.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 343505

Reported Deaths: 7543
CountyCasesDeaths
Hinds23932444
DeSoto23229283
Harrison20527329
Rankin15411291
Jackson15232252
Madison10959227
Lee10719179
Jones9047169
Forrest8723159
Lauderdale7884244
Lowndes7054151
Lamar702989
Lafayette6548124
Washington5595139
Pearl River5196152
Bolivar4954134
Oktibbeha494398
Panola4771112
Warren4728128
Marshall4701106
Pontotoc447773
Union433279
Monroe4330137
Neshoba4281181
Hancock428088
Lincoln4176116
Pike3667113
Leflore3627125
Tate353388
Alcorn350974
Sunflower347694
Scott341176
Adams340988
Yazoo339376
Copiah324968
Simpson322891
Itawamba314680
Coahoma314085
Tippah306568
Prentiss298863
Covington293484
Leake285475
Marion284181
Wayne277543
George272251
Grenada269488
Newton262364
Tishomingo239770
Winston236784
Jasper230648
Stone229637
Attala226373
Chickasaw219060
Holmes200174
Clay197654
Clarke186880
Tallahatchie183742
Calhoun181332
Smith179235
Yalobusha171540
Walthall145748
Lawrence142826
Greene140134
Amite137543
Noxubee135235
Perry133538
Montgomery133044
Carroll126431
Webster121232
Jefferson Davis116734
Tunica114227
Benton106725
Claiborne105331
Kemper102429
Humphreys100133
Franklin87923
Quitman84719
Choctaw82619
Wilkinson78032
Jefferson71328
Sharkey51618
Issaquena1736
Unassigned00

Alabama Coronavirus Cases

Cases: 577463

Reported Deaths: 11510
CountyCasesDeaths
Jefferson841981589
Mobile47171860
Madison37047533
Tuscaloosa26915465
Shelby26873256
Montgomery25918625
Baldwin24499328
Lee16949181
Calhoun15252332
Morgan15017290
Etowah14778370
Marshall12933235
Houston11774292
Elmore10761217
St. Clair10617252
Limestone10574158
Cullman10363205
Lauderdale10083254
DeKalb9382191
Talladega8836188
Walker7681287
Autauga7479114
Jackson7317117
Blount7266139
Colbert6635142
Coffee6163132
Dale5453117
Russell470642
Chilton4682117
Covington4649125
Franklin450081
Tallapoosa4440156
Escambia427882
Chambers3898125
Dallas3717163
Clarke367763
Marion3427106
Pike327879
Lawrence3225101
Winston294973
Bibb284565
Geneva276383
Marengo259967
Barbour246261
Pickens240062
Butler238272
Hale232778
Fayette225264
Henry209245
Monroe197241
Randolph196744
Cherokee196348
Washington180139
Macon168752
Crenshaw165558
Clay163759
Cleburne160245
Lamar149938
Lowndes144854
Wilcox130531
Bullock126142
Conecuh119630
Coosa116929
Perry109928
Sumter109032
Greene98736
Choctaw64325
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Very hot and very humid conditions linger in our area for our Saturday. However, the heat and humidity start to dwindle a bit as we go into our Sunday and beyond. As a matter of fact below normal high temperatures for this time of year.
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