Delta Air Says Weather Will Cut Profit by $45 Million
Delta Air Lines Inc. said fourth- quarter profit would be about $45 million less than it expected because of December’s severe winter weather throughout the U.S. and Western Europe.
Delta didn’t give a total for its earnings, or quantify its initial projection. The world’s second-largest airline may report net income of $213 million, based on the average of six analysts’ estimates compiled by Bloomberg.
Today’s statement by Atlanta-based Delta marked the first by one of the large U.S. carriers about the financial fallout from last month’s snow. Data tracker FlightStats.com said North American airlines canceled more than 29,000 flights in December, 3.5 percent more than a year earlier.
The snowstorm that began on Christmas weekend and was centered in the Northeast U.S. forced Delta to cancel 3,000 flights with about 250,000 passengers, according to the airline. Delta’s hubs include New York City’s John F. Kennedy airport.
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