Delta beats estimates on earnings but revenue disappoints

Delta Air Lines got off to a solid start on Thursday, beating estimates from analysts about its earnings to post a net income of $1.47 a share.

However, revenue fell 2% to $10.447bn, below the FactSet consensus of $10.479bn, as currency moves inflicted some damage.

"With the additional foreign currency pressure from the steep drop in the British pound and the economic uncertainty from Brexit, Delta has decided to reduce 6 points of U.S.-U.K. capacity from its winter schedule," Delta said in a statement.

The airline are confident that they can sustain growth in the long-term despite the mixed results. President Glen Hauenstein said it will "continue to move quickly and aggressively with all our commercial levers, including an incremental 1 point reduction in our December quarter capacity levels."

Despite the view of many within the sector, Hauenstein believes that the company can achieve positive unit revenues by the end of this year.

"While the revenue environment remains challenging, with persistent headwinds from close-in domestic yields and geopolitical uncertainty, we remain focused on achieving our goal of positive unit revenues by year end," he said.