Delta reports $213 million quarterly profit

Delta Air Lines reported a $213 million first quarter profit, in spite of a multi-million dollar hit from thousands of flight cancellations due to storms in January and February.

Atlanta-based Delta’s quarterly net income, equivalent to 25 cents a share, was up significantly from its results a year ago. In the same period of last year, Delta had net income of $7 million, or 1 cent a share.

The bigger profit came on a 5 percent increase in operating revenue.

But Delta faced a number of challenges in the quarter, including the cancellation of 17,000 flights due to severe weather in Atlanta and other cities in the first two months of the year, which caused the airline to lose $90 million in revenue.

“The March quarter’s record results in the face of unprecedented weather show the strength and resilience of Delta,” said chief executive Richard Anderson in a written statement.

Delta also lost $41 million from operations at its Trainer oil refinery in the first quarter, along with a $31 million loss from its 49 percent ownership stake in British carrier Virgin Atlantic.

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