Delta Posts Q3 Profit... With A Catch | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 02.08.16

Airborne 02.09.16

Airborne 02.10.16

Airborne 02.11.16

Airborne 02.12.16

Airborne Hi-Def On YouTube

Airborne 02.08.16

Airborne 02.09.16

Airborne 02.10.16

Airborne 02.11.16

Airborne 02.12.16

Fri, Nov 10, 2006

Delta Posts Q3 Profit... With A Catch

One-Time Gain Helps Carrier

It turns out Delta Air Lines won't have to pay as much as previously thought to restructure financing for many of its planes... and those cost-savings helped the bankrupt carrier post a $52 million net profit in the third quarter.

That's Delta's first net profit since it entered bankruptcy in September 2005... and compares quite well to last year's loss of $1.13 billion for the same period. Despite the good news -- and Delta will take all it can get right now -- that net gain isn't likely to recur in the future.

The Associated Press reports Delta realized a one-time, $98 million gain in non-cash assets from its recently renegotiated aircraft financing arrangements.

Excluding items related to its ongoing reorganization, Delta reports it lost $46 million in the quarter, on revenue that increased to $4.66 billion. The carrier has $2.8 billion of unrestricted cash on hand.

One positive quarter does not a successful year make, though. Through September, Delta has lost $4.22 billion -- up from $2.6 billion for the same time last year.

But the future does look brighter for the nation's number three airline... as passenger loads remain high, and fuel prices are going down. The carrier also announced Thursday it would recall 1,000 flight attendants next year.

Delta has announced it expects to exit bankruptcy sometime in 2007.

FMI: www.delta.com

Advertisement

More News

Airborne 02.11.16: Drone #s Increase, Fokker D. VIII Replica, Gulfstream G500

Also: Albania Auction, Aero-Community: AEA!, 500 F-35 Hours, SeaPort Airlines, Maxcraft Avionics, Air Power Museum, Webb Space Telescope FAA Administrator Michael Huerta told a UAV>[...]

ANN's Daily Aero-Linx (02.12.16)

Space Adventures Space Adventures' vision is to open spaceflight and the space frontier to private citizens. Over the next decade Space Adventures will fly more people to space tha>[...]

ANN's Daily Aero-Term (02.12.16): Climb To VFR

ATC authorization for an aircraft to climb to VFR conditions within Class B, C, D, and E surface areas when the only weather limitation is restricted visibility.>[...]

Aero-News: Quote Of The Day (02.12.16)

“U.S. airlines are vital to the health of our nation’s economy, and the flying public should not be asked to foot the bill for deficit reduction.” Source: Stateme>[...]

ANN FAQ: Here's How YOU Can Support The 'Let Bob Fly!' Documentary Project

Bob Has Asked ANN To Help Him Tell A Story That Could Transform The Fight For Airmen Rights... YOU Can Help! Just a few days ago, ANN dropped the first hints (of many to come) of w>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC