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 07.06.15

Airborne 07.07.15

Airborne 07.01.15

Airborne 07.02.15

Airborne 07.03.15

Airborne Hi-Def On YouTube

Airborne 07.06.15

Airborne 07.07.15

Airborne 07.01.15

Airborne 07.02.15

Airborne 07.03.15

 

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 07.06.15: Solar Impulse 2, FAA Reauth Delay, Airline Investigation

Also: SpaceX Test, The G500, Senate Appropriations, TSA Causes Cash Confiscation, NASA v Thunderstorms, Virgin Atlantic Cuts, Bristow Scholarship Even those of us who love flying w>[...]

Airborne 07.06.15: Solar Impulse 2, FAA Reauth Delay, Airline Investigation

Also: SpaceX Test, The G500, Senate Appropriations, TSA Causes Cash Confiscation, NASA v Thunderstorms, Virgin Atlantic Cuts, Bristow Scholarship Even those of us who love flying w>[...]

Patty Wagstaff Seeks To Crowdfund A New Airplane

Looks For Donations From The Public With A Goal Of $450K Patty Wagstaff has been flying airshows for more than 25 years. She's an inductee in the National Aviation Hall of Fame ...>[...]

Airborne 07.03.15: New Trig Avionics, Cargo Biz Grows, iOS GPS Fix

Also: 'No Drone Zone', Aviation v Media, Women's Air Race Classic, Houston Spaceport, Navy's New A/C Launch System, GA Fly Safe, FAA InFO Trig Avionics tells us they are unveiling >[...]

AeroSports Update: Red Bull Race Results Are In

Arch Grabs Second Straight Win With Thrilling Victory In Budapest As if the action of Red Bull Racing is not enough, the stunning background provided by the race setting in Budapes>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC