Delta Air Lines posts first quarterly profit since before pandemic

Shares of Delta Air Lines Inc. dropped 1.5% in premarket trading Wednesday, after the air carrier reported its first adjusted profit since the COVID-19 pandemic, and which was double what was expected, but said the recent rise in fuel prices will pressure its ability to remain profitable in the fourth quarter. Net income was $1.21 billion, or $1.89 a share, compared with $1.50 billion, or $2.31 a share, in the same period in pre-pandemic 2019. Excluding nonrecurring items, such as a $1.3 billion benefit related to government payroll support, adjusted earnings per share came in at 30 cents, beating the FactSet consensus…

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