Delta Airlines has reported a significant increase in its earnings for the year ended 2014.
Its results just released showed that the company recorded a pre-tax income of $4.5bn, excluding special items, representing a $1.9bn increase over the previous year.
The company’s net income for the year was $2.8bn with an operating margin of 13.1 per cent, excluding special items.
The company’s strong cash generation allowed it to accelerate its capital deployment plans by reducing its adjusted net debt to $7.3bn, and returning $1.35bn to shareholders through a combination of $251m of dividends and $1.1bn of share repurchases in 2014.
The Chief Executive Officer, Delta Airlines, Mr. Richard Anderson, said, “Our 2014 performance – an industry-leading operation, superior customer service, and a 70 per cent increase in profits – shows that Delta is focused on delivering growing value for its employees, customers and investors.
“As we begin 2015, we have a significant opportunity from lower fuel prices, which will drive more than $2bn in fuel savings over 2014. Through our capacity discipline, pricing our product to demand, and the fuel savings, we expect to drive double-digit earnings growth, along with increased free cash flow and a higher return on invested capital in the upcoming year.”
Meanwhile, the company has unveiled the newest expansion to Terminal 4 at the New York’s John F. Kennedy International Airport.
The company said in the statement that the $175m project addeds 11 new gates and 75,000 square feet to the Terminal 4’s Concourse B and continued Delta’s $1.2bn investment to enhance and expand the terminal.
It said, “Delta is significantly improving the customer experience at Terminal 4 and Terminal 2 by streamlining travel for those with connecting flights at the JFK and enhancing access to amenities at both terminals.
“With the 11-gate expansion, Delta is relocating a majority of its Delta Connection flights from Terminal 2 to the expanded Concourse B in Terminal 4.”
It added that the new gates at Terminal 4 would feature enclosed jetways and it was expected to offer customers a proximity to a flagship Delta Sky Club and an access to chef-inspired restaurants.
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