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Fuel hedges lift Delta Air Lines to Q1 profit


Well-known member
Apr 30, 2006
Total Time
In a story just crossing the newswires, The Associated Press writes:
Delta Air Lines Inc. is reporting a first-quarter profit because of fuel hedging and other one-time gains.

Net income was $124 million, or 15 cents per share. Revenue rose 9% to $8.41 billion.

OTHER NEWS: US Airways posts profit thanks to slot swap with Delta
The first quarter usually is the weakest of the year, and Delta would have lost money if not for special items.

The airline booked a $151 million gain on fuel hedges that are set to pay off, although they haven't yet. Minus that and other items, Delta would have lost $39 million, or 5 cents per share.

Analysts had been expecting a loss of 4 cents per share.

Fuel hedges are bets on the price movement of products such as oil and gasoline. They help airlines smooth out the ups and downs of jet fuel purchases.
Check back later this morning for updates.