Delta Air Lines (NYSE:DAL) saw its stock price descend Tuesday morning after the No. 2 U.S. airliner revealed weaker-than-expected fourth-quarter results amid climbing costs.

Atlanta-based Delta said it earned $19 million, or 2 cents a share, last quarter, compared with a loss of $25 million, or 3 cents a share. Excluding one-time items, it earned 19 cents a share, solidly missing forecasts from analysts for 24 cents.

Operating revenue advanced 14% to $7.79 billion, narrowly topping expectations, but operating expenses rose 9% to $644 million, led by a 39% increase in maintenance.

"Our 2010 results are among the best in Delta's history,” CEO Richard Anderson said in a statement. "These results are a direct reflection of the success of our merger, cost discipline and debt reduction strategy and give us momentum to deal with the rising fuel prices we face in 2011."

Delta said its passenger revenue increased 15%, or $889 million, as capacity grew by 7%. Passenger unit revenue, or PRASM, jumped 8%.

Shares of Delta declined 3.06% to $12.36 Tuesday morning, leaving it virtually unchanged from a year ago. Other airlines stocks like American Airlines parent AMR Corp. (NYSE:AMR) and US Airways (NYSE:LCC) also lost ground.