With high fuel prices slicing last year’s profit in half, Delta Air Lines Inc. said 2,000 workers are taking voluntary buyouts, it will cut its fall schedule more than expected, and it won’t fly routes where it can’t make money.
Airlines have been raising fares to cover higher fuel bills. Delta’s fuel cost rose 36 percent to $2.66 billion in the latest quarter.
Delta CEO Richard Anderson said higher fares covered 70 percent of the fuel cost. Delta is hoping that scaling back flying and cutting costs — along with continuing attempts to raise fares — will cover the rest. Revenue rose 12 percent to $9.15 billion. Delta has about 80,000 employees.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.