Fri, Nov 10, 2006
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
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
"We take great pride in Vietjet selecting the game-changing Geared Turbofan engine to power their aircraft fleet. Customers continuously recognize that this engine represents the p>[...]
Also: PWC PW307D, Icon Scandal, Memorial Day, IASO, Nat'l Warplane Museum, Gogo Cloud, Orbital ATK, Honor Flight Austin The Australia's Minister for Infrastructure and Transport, D>[...]
Campaign Is Titled 'Let's Do A Little More For Les' The National Warplane Museum has kicked off its first ever crowd funding project. While many are aware of crowdfunding and how i>[...]
Airliner 'Briefly' Out Of Contact With Air Traffic Controllers On the same day that EgyptAir Flight MS804 disappeared from radar over the Mediterranean Sea, another airliner was in>[...]
Department Seeks Grants To Help Keep Aircraft Flying The police department in Toledo, OH may be forced to ground its helicopter unless it is able to identify a grant for the $300,0>[...]