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The
Atlanta-based airline said its profit fell about 4 percent to
$1.3 billion in the quarter. On an adjusted basis, Delta earned
$1.70 per share, compared with analysts' average estimate of
$1.65 per share, according to Thomson Reuters I/B/E/S.
Delta, the No. 2 U.S. airline by passenger traffic, said it will
continue to taper its capacity growth next year to help prop up
prices, which have fallen due to a glut of seats for sale.
"We will be taking a cautious approach to 2017 by keeping our
capacity in line with the December quarter's 1 percent growth
level," Chief Executive Officer Ed Bastian said. Capacity
measures how many seats an airline flies and how far it flies
them.
Delta forecast that passenger unit revenue, which compares sales
to capacity, will fall between 3 percent and 5 percent in the
fourth quarter after declining 6.8 percent in the third quarter.
Revenue totaled $10.48 billion, falling short of the analyst
average estimate of $10.55 billion, according to Thomson Reuters
I/B/E/S.
(Reporting by Jeffrey Dastin in New York; Editing by Jeffrey
Benkoe)
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