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Delta Air Lines posts profit of $1.37 billion

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JOSHUA FREED | October 22, 2013 08:08 AM EST | AP


MINNEAPOLIS — MINNEAPOLIS (AP) — Delta Air Lines made more than a billion dollars in the third quarter as more passengers paid a little bit extra to fly. Even its new oil refinery turned a small profit.

The profit of $1.37 billion worked out to $1.59 per share. Not counting gains from fuel hedges, the company would have earned $1.2 billion, or $1.41 per share. That was 5 cents per share more than expected by analysts surveyed by FactSet.

Revenue rose 6 percent to $10.49 billion, about what analysts were expecting.

Traffic rose 2 percent for the quarter. The amount passengers paid for each seat flown one mile rose 5 percent.

Delta began paying a dividend during the quarter.