Delta says higher airfares expected to last despite drop in oil prices

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Delta Airlines reported a $1.4 billion profit despite having the highest quarterly fuel expenses in its history. The company expects elevated airfares to continue even though oil prices have recently dropped, passing most of the increased fuel costs on to consumers.

Company reports $1.4bn profit despite its highest quarterly fuel expense in history Delta Airlines saidelevated airfares are likely to last despite a recent drop in oil prices, reporting strong appetite for travel and record-high revenue in its quarterly results Friday. Though the company had its highest quarterly fuel expense in its history, demand has been high enough to pass along 60% of its extra fuel costs to consumers, Delta’s CEO, Ed Bastian, told CNBC, with plans to eventually pass along all elevated costs. Continue reading...