Finally some good news has reached Delta Air Lines. Apparently the carrier said that it was able to narrow its net losses for the first quarter of 2010. The company said that it expects to turn a profit in its June quarter.

Delta Air Lines posted a first quarter net loss of $192 million, or 23 cents per share. This is excluding special items. If the company includes one time items, then net losses were $256 million or 31 cents per share. In the first quarter of 2009, the carrier recorded a net loss of a whopping $794 million, or $693 million excluding certain charges.

The total operating revenue grew to $6.8 billion from $6.7 billion. Experts, on average, have expected zero earnings per share and revenue of $7 billion. The president of Delta Air Lines, Ed Bastian, said that the carrier’s revenue performance for that quarter continues to build momentum. This comes despite a $65 million revenue impact from February’s severe weather. The company expects trends to improve over the course of the this year, as business travel continues to return.

Shares for Delta Air Lines only gained less than 1 percent. In fact, the shares only improved by 2 cents to $13.20 early Tuesday. Although this is a small improvement, it is a big step forward in the airline industry. Right now many airlines are busy doing what they can to improve. Very few are showing any signs of improvement right now, like Delta Air Lines is. If the airline is able to follow its plan of returning to profitability in its June quarter, then this will be a huge leap forward.