Higher fuel prices and plane repair expenses held-down net income growth for Delta Air Lines in the last quarter.
The Atlanta-based carrier’s profit missed Wall Street estimates as its shares fell 3.5 percent. Net income for the Atlanta-based carrier was $19 million for the quarter, translating to 19 cents a share. Analysts expected 5 cents higher on average.
Even though Delta’s operating revenue rose 14 percent in the last three months, it was significantly cut into by the spikes in costs for fuel and plane maintenance.
Since it bought Northwest Airlines in 2008, Delta has cut debt, added passenger amenities and expanded service to higher-growth markets.