Thursday, April 20, 2000 | 11:39 a.m.
Higher fuel prices and weak midwinter ridership pushed Delta Air Lines' profit down 11 percent, to $179 million, in the airline's third fiscal quarter ended March 31.
The profit, which excludes one-time gains, handily beat Wall Street forecasts.
Delta was hurt less by higher fuel costs than most carriers because of an aggressive hedging program that locked in below-market prices in advance.
The $179 million quarterly profit translated to $1.33 a share. That compared with a prior-year profit of $201 million, excluding special items, or $1.31 a share. Earnings per share rose because the company had fewer shares outstanding than a year ago, the result of a buyback.
archive
