Delta Air Lines, citing industry price cutting,...
Delta Air Lines, citing industry price cutting, reported that its fiscal first-quarter profits skidded 51% from a year earlier on flat revenue. Continued price cutting eroded Delta’s yield, or average fare, by 7% in the latest quarter, said Robert Oppenlander, the carrier’s vice chairman and chief financial officer. “The lower yield reflects a continuation of the deep discount fares implemented earlier in the year and new discount fares initiated by other carriers in some of Delta’s major markets in the September quarter,†Oppenlander added.
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