Higher costs and low base fares send Delta's profit down 29%. The airline still earned $1.31 billion

Delta Air Lines says its second-quarter profit is down 29% from a year earlier, and it's giving a disappointing outlook for the third quarter. Delta said Thursday that it earned $1.31 billion in the second quarter, down from more than $1.83 billion last year. The weaker profit comes despite strong revenue, as Americans travel in record numbers. But Delta's costs are rising even faster than its revenue. The airline spent much more on labor, jet fuel and other big items than it did in the same period of last year.