Delta Air Lines Inc. (NYSE:DAL) saw its shares fly higher in premarket trade after its set of results for the third quarter beat Wall Street’s expectations.
Its shares rose 1.80% to US$53.65 in premarket trade.
In the quarter, the airline said net income came in at US$1.18bn, or US$1.64 a share, up from in the quarter, against US$1.26bn, or US$1.69 a share, in the year-earlier period.
READ: Delta Air Lines shares fly lower ahead of third quarter results
Adjusted per-share earnings came to US$1.57, ahead of the market’s expectations for US$1.53.
Revenue also beat market consensus, rising to US$11.1bn from US$10.5bn, against expectations for US$11.0bn.
Pre-tax earnings were hit by operational disruption caused by Hurricane Irma, which lashed the Caribbean, Florida and Georgia, including the company's hub in Atlanta.
Long term 2% cost target on track
"Three of four entities reported positive unit revenues, and we see continued opportunity in business yields," President Glen Hauenstein said in a statement.
"We expect fourth-quarter unit revenues to be up two to four percent with all entities in positive territory by year end."
Paul Jacobson, Delta’s chief financial officer added: “ ...with the productivity from our fleet, maintenance and technology initiatives combined with the determination of the Delta team, we are confident we can deliver our long-term two percent cost target for 2018 and beyond.”