Here are some bullet points:
Passenger revenue decreased 25%, or $2 billion, compared to the prior year period due to the global economic recession, the estimated $125 million to $150 million impact of the H1N1 virus and a 7% capacity reduction. Passenger unit revenue (PRASM) declined 20%, driven by a 19% decline in yield.
Cargo revenue declined 54%, or $200 million, reflecting lower volume and yield due to the recession. Freighter capacity was 50% lower year over year, as Delta continues to reduce capacity to achieve its plan of discontinuing all freighter flying by the end of 2009.
Other, net revenue grew 15%, or $123 million, primarily due to increased baggage fee revenue and improved terms from Delta's affinity card agreement with American Express.
Delta's net loss for the June 2009 quarter was $199 million, excluding $58 million in merger-related expenses(1), or $0.24 loss per share. Delta's reported net loss for the June 2009 quarter was $257 million, or $0.31 per share.
In the June 2009 quarter, consolidated unit costs, excluding fuel and special items, were up 2%, on a 7% decline in system capacity
Delta has achieved more than $200 million in synergy benefits in the first half of 2009 from its merger with Northwest Airlines.
Delta generated $834 million in operating cash flow during the quarter and had $5.4 billion in unrestricted liquidity as of June 30, 2009.
As of June 30, 2009, Delta had $5.4 billion in unrestricted liquidity, including $4.9 billion in cash, cash equivalents and short-term investments and $500 million available under an undrawn line of credit. Delta generated $834 million in cash from operations, and $509 million in free cash flow for the quarter.
Seems to be a decent performance in light of the current environment.
