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Delta's profit tumbles on higher costs; passenger unit revenue rises

Reuters 

By Alana Wise and Arunima Banerjee(Reuters) - Delta Air Lines Inc on Thursday reported a 21 percent drop in second-quarter profit because of sharply higher labor and fuel costs, despite higher passenger unit revenue, sending its shares down 2 percent.The stock drop reversed positive gains earlier in the week driven by investor optimism about improving passenger unit revenue in the sector. The closely-watched metric measures sales relative to flight capacity. Breaking a losing streak that has plagued much of the industry for the last two years, Delta posted a 2.5 percent increase in ...

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First Published: Fri, July 14 2017. 00:17 IST
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