Delta Air Lines today reported financial results for the June 2011 quarter. Key points include:

• Delta's net income for the June 2011 quarter was $366 million, or $0.43 per diluted share, excluding special items.
• Delta's net income was $198 million, or $0.23 per diluted share, for the June 2011 quarter.
• Strong top line revenue growth of 12% year over year helped offset more than $1 billion higher fuel expense.
• Delta generated a revenue premium, with unit revenues up 10% for the quarter.
• Delta generated $1 billion of operating cash flow and $700 million in free cash flow in the quarter. The company ended the June 2011 quarter with $5.6 billion in unrestricted liquidity.

"High fuel prices are putting significant pressure on the industry, but the benefits of Delta’s strategic actions and the dedication of Delta employees are evident in the solid profit we produced despite more than $1 billion in higher fuel expense," said Richard Anderson, Delta's chief executive officer. "Our revenue momentum, coupled with the capacity reductions we are making in September and actions to get our non-fuel costs to 2010 levels, will generate the margins we need to hit our return targets."