Delta Quarterly Net Edges Down

Delta Air Lines Thursday said profits fell in the latest quarter but hit a record for its fiscal year, resulting in a $145 million profit-sharing payout to employees that was the largest in its three-year programme. Other carriers reported mixed results. ValuJet Inc., still struggling after a fatal crash last year, reported a loss of $9.2 million for the second quarter. Southwest Airlines Co. beat expectations with earnings of $94 million, up 13 percent. The latest results come after the nations largest airlines reported generally strong earnings while smaller ones struggled. Delta, the nations third-largest carrier, said profits fell to $301 million in its fourth quarter ended in June, from a record $328 million a year earlier.