Delta Air Lines posts small 1Q profit as fares rose even while it cut flying slightly

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In this Saturday, April 6, 2013, photo, a Delta Airlines jet flies past the company\'s billboard at Citi Field, in New York. Delta Air Lines Inc. reports quarterly financial results before the market opens Tuesday, April, 23, 2013. (AP Photo/Mark Lennihan)

MINNEAPOLIS – Delta Air Lines is reporting a small first-quarter profit, as passengers paid more to fly.

The world’s second-biggest airline says revenue rose even though it cut flying slightly.

Delta earned $7 million, or a penny per share. Not counting special items, it would have earned $85 million, or 10 cents per share — better than analysts had been expecting.

Revenue rose 1 per cent to $8.5 billion, matching analyst expectations.

The first three months of the year are often money-losers for airlines. Delta says this was its best first-quarter profit in more than a decade.

Yield, which is one way to measure fares, rose 2.1 per cent.

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