Delta makes huge swing to profitability

Delta makes huge swing to profitability    Delta Airlines made a second quarter net profit of $549 million, excluding special items — a $748 million turnaround from the same period in 2009.
   Special charges for Northwest merger expenses and aircraft retirements reduced the Atlanta-based carrier's actual net income to $467 million.
   Delta said its best quarterly profit in a decade was due to a 19 percent increase, or $1.1 billion, in passenger revenue even though seat capacity was 1 percent less, a 22 percent increase in cargo revenue on higher volume and yield, and a 3 percent increase in other revenue, mostly higher baggage fees.
   The airline said it expects revenue to increase by double digits again in the third quarter.
   Operating expenses increased $317 million year-over-year because of higher fuel expenses and a $90 million profit-sharing payment to employees.