ATLANTA — Delta Air Lines says it earned $1.1 billion in the fourth quarter by operating more flights and filling a higher percentage of seats. That's an 8% increase from Delta's profit in the same quarter a year earlier.
In 2019, total revenue increased to a record $47 billion, up 7.5% when the prior year period is adjusted for third-party refinery sales and the sale of DAL Global Services.
To add to the excitement for its 90,000 employees, the company announced that they will share a record $1.6 billion profit sharing payout on Feb. 14. This translates to a 16.6% payout for eligible employees. CEO Ed Bastian announced this during the Cobb Chamber of Commerce's Marquee Monday event at the Coca-Cola Roxy in Atlanta.
They said the profit share is nothing new to the company. This is the sixth year in a row that they've paid out more than $1 billion in profit sharing.
Lower fuel prices helped Delta save more than $300 million, and unlike key rivals, Delta didn't get caught up in the grounding of the Boeing 737 Max — it doesn't own any of the planes.
The financial results beat Wall Street expectations. Airlines are enjoying a long boom period as travel outpaces many other sectors of the economy.
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