Delta Air Lines

Delta sees 3Q profit slip, hints at higher average prices

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 revenue for each seat flown one mile — a closely watched measure of pricing power in the airline business — will rise by up to 4 percent over last year during the fourth quarter.

That forecast comes a day after American Airlines and United...

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