Bangkok--7 Aug--Jigsaw Communications
Delta Air Lines (NYSE: DAL) today reported financial and operating performance for July 2012.
(Logo: http://photos.prnewswire.com/prnh/20090202/DELTALOGO )
Delta's consolidated passenger unit revenue (PRASM) increased 4.5 percent for the month of July as compared to the prior year. Unit revenues increased across all entities, with the strongest performance in the Pacific, as the company continued to see benefits from its capacity discipline, corporate revenue gains, and its expansion at New York's LaGuardia airport.
System load factor increased 0.2 points to 87.8 percent on a 3.1 percent reduction in capacity.
The company's adjusted fuel price per gallon was $3.15 for the month.
Delta's strong operational performance continued during the month. Delta's completion factor of 99.5 percent was 0.4 points higher than prior year, and its on-time performance was 80.0 percent.
The company's financial and operational performance is detailed below.
Preliminary Financial and Operational Results — July 2012
Consolidated PRASM change year over year 4.5%
Consolidated average fuel price, adjusted $3.15
On-time performance (preliminary DOT A14) 80.0%
Mainline completion factor 99.5%
Note: Fuel price includes taxes, transportation, settled hedges, and hedge premiums, but excludes mark to market adjustments on open hedges.
Delta Air Lines serves more than 160 million customers each year. During the past year, Delta was named domestic "Airline of the Year" by the readers of Travel Weekly magazine, was named the "Top Tech-Friendly U.S. Airline" by PCWorld magazine for its innovation in technology and won the Business Travel News Annual Airline Survey. With an industry-leading global network, Delta and the Delta Connectioncarriers offer service to more than 330 destinations in 61 countries on six continents.
Headquartered in Atlanta, Delta employs 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. A founding member of the SkyTeam global alliance, Delta participates in the industry's leading trans-Atlantic joint venture with Air France-KLM and Alitalia. Including its worldwide alliance partners, Delta offers customers more than 13,000 daily flights, with hubs in Amsterdam, Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City and Tokyo-Narita. The airline's service includes the SkyMiles frequent flier program, a world-class airline loyalty program; the award-winning BusinessElite service; and more than 50 Delta Sky Clubsin airports worldwide. Delta is investing more than $3 billion through 2013 in airport facilities and global products, services and technology to enhance the customer experience in the air and on the ground. Customers can check in for flights, print boarding passes, check bags and review flight status at delta.com.
Monthly Traffic Results (a) Year to Date Traffic Results (a)
July 2012 July 2011 Change July 2012 July 2011 Change
RPMs (000):
Domestic 11,074,263 11,249,421 (1.6%) 67,249,493 67,170,086 0.1%
Delta Mainline 8,928,687 8,924,624 0.0% 53,320,972 53,017,298 0.6%
Regional 2,145,576 2,324,797 (7.7%) 13,928,522 14,152,788 (1.6%)
International 8,020,442 8,392,446 (4.4%) 45,713,535 45,767,019 (0.1%)
Latin America 1,362,716 1,375,111 (0.9%) 8,398,465 8,239,158 1.9%
Delta Mainline 1,347,461 1,351,498 (0.3%) 8,298,193 8,114,326 2.3%
Regional 15,256 23,613 (35.4%) 100,271 124,832 (19.7%)
Atlantic 4,364,409 4,676,995 (6.7%) 23,204,702 24,204,106 (4.1%)
Pacific 2,293,316 2,340,340 (2.0%) 14,110,369 13,323,755 5.9%
Total System 19,094,705 19,641,867 (2.8%) 112,963,028 112,937,105 0.0%
ASMs (000):
Domestic 12,615,204 12,792,514 (1.4%) 79,646,394 81,089,299 (1.8%)
Delta Mainline 10,016,718 10,001,906 0.1% 62,073,614 62,949,676 (1.4%)
Regional 2,598,486 2,790,608 (6.9%) 17,572,780 18,139,623 (3.1%)
International 9,124,599 9,640,751 (5.4%) 55,878,329 57,703,512 (3.2%)
Latin America 1,515,851 1,535,866 (1.3%) 10,436,268 10,489,417 (0.5%)
Delta Mainline 1,496,460 1,505,156 (0.6%) 10,286,204 10,308,545 (0.2%)
Regional 19,391 30,710 (36.9%) 150,064 180,872 (17.0%)
Atlantic 4,879,235 5,279,380 (7.6%) 28,205,194 30,588,379 (7.8%)
Pacific 2,729,513 2,825,505 (3.4%) 17,236,866 16,625,716 3.7%
Total System 21,739,803 22,433,265 (3.1%) 135,524,722 138,792,811 (2.4%)
Load Factor:
Domestic 87.8% 87.9% (0.1) pts 84.4% 82.8% 1.6 pts
Delta Mainline 89.1% 89.2% (0.1) pts 85.9% 84.2% 1.7 pts
Regional 82.6% 83.3% (0.7) pts 79.3% 78.0% 1.3 pts
International 87.9% 87.1% 0.8 pts 81.8% 79.3% 2.5 pts
Latin America 89.9% 89.5% 0.4 pts 80.5% 78.5% 2.0 pts
Delta Mainline 90.0% 89.8% 0.2 pts 80.7% 78.7% 2.0 pts
Regional 78.7% 76.9% 1.8 pts 66.8% 69.0% (2.2) pts
Atlantic 89.4% 88.6% 0.8 pts 82.3% 79.1% 3.2 pts
Pacific 84.0% 82.8% 1.2 pts 81.9% 80.1% 1.8 pts
Total System 87.8% 87.6% 0.2 pts 83.4% 81.4% 2.0 pts
Mainline Completion 99.5% 99.1% 0.4 pts
Factor
Passengers Boarded 15,680,567 16,018,038 (2.1%) 96,361,537 95,702,103 0.7%
Cargo Ton Miles (000): 210,720 203,275 3.7% 1,384,181 1,382,745 0.1%
Endnote:
a Results include flights operated under contract carrier arrangements.
Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures
July 2012
Delta sometimes uses information that is derived from its Consolidated Financial Statements, but that is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Certain of this information are considered "non-GAAP financial measures" under the U.S. Securities and Exchange Commission rules. The non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results.
Mark-to-market adjustments for fuel hedges recorded in periods other than the settlement period ("MTM Adjustments"). We exclude MTM adjustments, which are based on market prices at the end of the reporting period and certain assumptions, as they are not necessarily indicative of the actual future value of the underlying hedge in the contract settlement period.
July 2012
(preliminary)
Average price per fuel gallon including fuel expense incurred under contract carrier arrangements $2.50
MTM Adjustments 0.65
Average price per fuel gallon, adjusted $3.15
SOURCE Delta Air Lines
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