Delta Air Lines said 2,000 workers took voluntary buyouts and it will reduce its flying more than planned later this year as it cuts costs to make up for higher fuel prices.
The high cost of jet fuel was the main reason Delta's second-quarter net income fell by 58 percent compared with a year ago. It earned $198 million, or 23 cents per share. Revenue rose 12 percent to $9.15 billion as Delta raised fares to try to pay the increased fuel costs.
Delta would have earned 43 cents per share if not for one-time items including severance costs and reducing its facilities. Either way, the profit was less than analysts expected 46 cents per share on revenue of $9.16 billion, according to FactSet.