Delta Air Lines (NYSE:DAL) announced that third quarter profit nearly doubled as a result of favorable fuel contracts. The company earned $1.05 billion, or $1.23 per share, versus $549 million, or 65 cents, in the same period last year. Excluding items, the company earned $768 million or 90 cents, below expectations of 91 cents. Revenue increased by one percent to $9.92 billion, below estimates of $9.93 billion.
Shares are lower by about 2.25 percent.
US Airways (LCC) announced its best profit ever in the third quarter, earning $245 million, or $1.24 per share, versus $76 million, or 41 cents per share, in the same period last year, boosted by the sale of airport rights to Delta. Revenue incrased by 3 percent to $3.53 billion but missed estimates of $3.55 billion.
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