reported a sharp improvement in its January results, particularly in its revenue metrics.
The third-largest carrier said passenger revenue per available seat mile, adjusted for length of haul, rose 6.1% in January, compared with an industry increase of 1.7% over the same period. January is typically Delta's slowest travel month.
Delta's loss, excluding reorganization items, was $115 million, compared with a loss of $213 million a year earlier. Including bankruptcy-related items, the airline lost $109 million, compared with a loss of $300 million a year earlier.
On the expense side, mainline cost per available seat mile, excluding fuel, was 7.19 cents, representing a 7.1% decline from a year earlier. Operating expenses were flat despite a capacity increase of 2.9%.
The carrier said it's on track to emerge from bankruptcy protection this spring. "The year-over-year improvement in our results continues to reflect the progress we are making in transforming our business," said CFO Ed Bastian, in a prepared statement.
Delta reiterated that under its proposed plan of reorganization, its existing stock will be canceled, and shareholders won't be compensated.