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/NBAA2014 10.20.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.20.14 **
** Airborne 10.17.14 ** HD iPad-Friendly -- Airborne 10.17.14 **
** Airborne 10.15.14 ** HD iPad-Friendly -- Airborne 10.15.14 **

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

Klyde Morris (10.20.14)

Klyde Battles The Grammar Psychos!!! FMI: www.klydemorris.com>[...]

Airborne 10.17.14: Enstrom Delivers, Flight School Scandal, NBAA2014

Also: Rare O-46 Rebuild, Valor Unveiled, OK's Anti-Fly-In Airport, FAA Screw-Ups, The first Enstrom Model 480B-G has been delivered to Rick Boswell of New Hampshire with the Garmin>[...]

ANN's Daily Aero-Term (10.20.14): Altostratus

Altostratus This middle cloud genus is composed of water droplets, and sometimes ice crystals, In the mid-latitudes, cloud bases are generally found between 15,000 and 20,000 feet.>[...]

Aero-News: Quote Of The Day (10.20.14)

"I am extremely saddened by the loss of my friend. Peter devoted the last 23 years of his life to this wonderful mission. His faith, dedication, and hard work were something to emu>[...]

AeroSports Update: Sport Performance Aviation Selects Superior XP-320

Superior Air Parts Announces That Sport Performance Aviation Has Selected The XP-320 Engine For The SPA Panther Sport Aircraft Scott Hayes, V.P. Sales and Marketing for Superior Ai>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC