ATLANTA, GA – For the quarter ending September 30, 2010, Delta Air Lines reported that it brought in US$929 million, and that’s not taking into account what is classified as “other” revenue, which primarily accounts for baggage fees taken in by the airline.
Year over year, this is an $878 million improvement, which resulted in a GAAP (Generally Accepted Accounting Principles) net income of US$363 million.
It was the good fortune of Delta employees to be on the receiving end of US$185 million in profit sharing (US$275 million year to date) in recognition of their achievements toward meeting the company’s financial targets – an expense Delta must be more than happy to dole out.
Delta reduced its debt by US$750 million in debt, ending the 3rd quarter of the year with US$5.5 billion in unrestricted liquidity.
“This quarter’s profit is evidence of the success of our merger. We are making progress toward our goal of consistent profitability with 10-12 percent annual operating margins, and we expect to be profitable for the December quarter,” said Richard Anderson, Delta’s chief executive officer. “These results would not have been possible without the hard work and dedication of the Delta people, and we are pleased to recognize their contributions with an additional $185 million this quarter for our profit sharing program.”