Delta Airlines Posts $19 Million Profit
Tuesday, January 18, 2011 - 08:59 PM
(Detroit -- Noah Ovshinsky, WDET) Delta Airlines reported its fourth quarter earnings today. Michigan’s dominant carrier reported a quarterly profit of 19 million dollars, disappointing Wall Street analysts, who had expected higher numbers. Delta President Ed Bastian says the company was hurt by bad weather during the holidays.
"The severe winter weather that we experienced throughout the U.S. and western Europe reduced our December quarter profit by 45 million dollars due to approximately 4,000 flight cancelations and the associated effects.”
Bastian say Delta will take another hit in the first quarter due to severe weather. The airline canceled flights at its Atlanta hub last week. Officials say higher gas prices are also taking a toll on Delta’s bottom line.