$DAL Beats Expectations, Profits Fall With Fewer Hedging Gains

“Delta Air Lines Inc.’s DAL -0.79% first-quarter net profit fell 94% as the carrier posted fewer fuel-hedging gains, offsetting modest revenue growth.

Adjusted earnings topped expectations, however.

Delta recently was one of the first companies to cite the so-called sequester U.S. budget cuts that came into force last month as it saw revenue growth slow in March. The company also blamed reduced government spending for lower late flight bookings, which typically attract higher fares—while signaling that demand also was hurt by efforts to raise fares….”

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