Delta Reports $140 Million Hit From Hurricane Irma, Sees Q3 Profit Fall

The price of air travel is poised to rise again, with airlines seeing beyond recent fare wars that have cut into their profits.Delta Air Lines third-quarter profit fell more than 6 percent to $1.18 billion, partly because Hurricane Irma robbed the company of $140 million in revenue from canceled flights.The hurricane's impact was already known, however, so investors are more likely to seize on Delta's prediction Wednesday that a proxy for average prices will rise by up to 4 percent over last year during the fourth quarter.  Continue reading...