Delta Air Lines Inc. (NYSE: DAL) reported Tuesday that its first-quarter net loss widened to $318 million, or 38 cents a share, from a loss of $256 million, or 31 cents a share, in the year-ago quarter. Total operating revenue for the March 2011 quarter was $7.7 billion, an increase of $899 million, or 13%, compared to the same period last year. Analysts, on average, expected the company to report a loss of 50 cents per share on revenue of $7.61 billion.
"Fuel is the biggest challenge facing this industry and Delta is actively reducing capacity, implementing fare actions, hedging our fuel needs and attacking our cost structure in order to offset fuel's impact on our earnings," said Richard Anderson, Delta's chief executive officer. "These actions would not be possible without the dedication and determination of Delta people worldwide, who are working every day to build the best airline in the world for our shareholders, our employees and our customers."
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