Delta Air Lines and US Airways both announced today that they swung to profits in the latest quarter.
Delta (NYSE:DAL) said it earned $363 million, or $0.43 per share, compared to a loss of $161 million, or $0.19 per share, in the same quarter last year.
Adjusted earnings of $1.10 per share were well ahead of analyst expectations.
Revenue topped expectations as well, rising 18%, to $8.95 billion.
Delta shares are trading up 6.8% Wednesday.
Also today, US Airways (NYSE:LCC) posted a profit of $240 million, or $1.22 per share, compared to a loss of $80 million, or $0.60 per share, in the same quarter last year.
Revenue rose 17%, to $3.18 billion.
Results beat analyst expectations, and shares are trading up 6.4% Wednesday.
Shares of rival United Continental Holdings, which usurped Delta’s spot as the largest airline in the world, are trading up over 3.1%. Shares of AMR Group (AMR), parent to American Airlines, are trading up 4%.
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