Atlanta - Delta Air Lines is reporting financial results for the December 2011 quarter.
Key points include:
* Delta’s net income for the December 2011 quarter was $379 million, or $0.45 per diluted share, excluding special items1. This is a $221 million improvement year over year.
* Delta’s net income for 2011 was $1.2 billion, excluding special items, as the company offset $3 billion higher fuel expense through strong revenue performance and its fuel hedging program.
* Delta’s GAAP net income was $425 million, or $0.50 per diluted share, for the December 2011 quarter and $854 million for 2011.
* 2011 results include $264 million in profit sharing expense, including $89 million in the December quarter, recognizing Delta employees’ contributions toward meeting the company’s operating and financial goals.
* Delta’s adjusted net debt at the end of 2011 was $12.9 billion, a $4.1 billion reduction from 2009.