Delta air lines records profit 2nd quarter 2016

According to Delta Air Lines' quarterly earnings report for the second quarter of 2016, the company reported:

• Net income: $1.44 billion, up 23% from $1.17 billion in the same period in 2015
• Earnings per share (EPS): $1.44, up 23% from $1.17 in the same period in 2015
• Operating revenue: $11.04 billion, up 10% from $10.03 billion in the same period in 2015
• Operating margin: 14.1%, up from 12.4% in the same period in 2015
• Passenger revenue: $8.43 billion, up 11% from $7.63 billion in the same period in 2015
• Cargo revenue: $243 million, up 2% from $238 million in the same period in 2015
• Fuel expense: $2.43 billion, up 14% from $2.13 billion in the same period in 2015
• Non-fuel unit cost: 7.45 cents, down 1.5% from 7.57 cents in the same period in 2015

Delta's CEO, Richard Anderson, attributed the company's strong performance to a combination of factors, including:

• Strong demand for air travel, particularly in the transatlantic and transpacific markets
• Higher yields and revenue per available seat mile (RASM)
• Cost savings from the company's ongoing efficiency initiatives
• The impact of the strong U.S. dollar on international revenue

Delta also reported that it had made significant progress in its efforts to reduce costs and improve efficiency, including:

• Achieving $1.2 billion in cost savings through its "Delta 2016" efficiency program
• Implementing a new revenue management system to optimize pricing and revenue
• Launching a new loyalty program, Delta SkyMiles, which had already attracted over 100 million members

Overall, Delta's second-quarter results were strong, with the company reporting its highest quarterly profit in its history.