Delta Air Lines reported second quarter profits of $137 million, or $0.35 this morning, excluding special charges and despite a $1 billion year-to-year increase in fuel costs. This was more than triple the $0.10 per share figure projected by analyst consensus provided by Thomson First Call.

Including special charges of $1.2 billion, Delta said its net loss for the second quarter was $1 billion, or $2.64 per diluted share.

Delta also reported total operating revenue of nearly $5.5 billion for the second quarter, a 10% increase from the year-earlier total of $5 billion.

As we are also seeing with shares of American Airlines, investors are happy, happy, happy, with the news, with shares of Delta Air Lines up more than 17% as of this writing, to $5.48.

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