Delta Air Lines reported a $746 million profit for the first quarter as it carried more passengers and benefited from lower fuel prices.
Revenues for the quarter were $9.4 billion.
“While the strong dollar is creating headwinds with international revenues, it also contributes to the lower fuel prices which will offset those headwinds with over $2 billion in fuel savings this year,” said Delta chief executive Richard Anderson.
The Atlanta-based carrier also announced plans to reduce international capacity by 3 percent in the fourth quarter as the strong U.S. dollar has hurt the airline’s revenues in international markets. Most of the capacity cuts will come in Japan, Brazil, Africa, India and the Middle East. U.S. domestic capacity, however, will grow 2 percent.
Delta is the first airline to report its first quarter earnings. Southwest Airlines is expected to post its earnings on April 23 and American Airlines is expected to report its first quarter earnings on April 24.