Delta Records $55 Million Profit in Feb.

[FA Mikey]

Delta Air Lines Inc., the nation's third-largest carrier, reported Thursday that it earned $55 million on revenue of $1.25 billion in February in contrast to a loss a year earlier.

The profit, which amounted to 23 cents a share, was disclosed in a monthly operating report for the 28-day period that was filed with the U.S. Bankruptcy Court in New York.

Delta said in a statement the profit for February compared to a net loss of $209 million in February 2006.

Excluding reorganization items, Delta said it lost $43 million last month.

As of Feb. 28, Delta had $2.7 billion of unrestricted cash, cash equivalents and short-term investments.

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[FWAAA]

Excluding reorg items, DL actually lost $43 million in February, which is probably what most majors with extensive NE operations lost in Feb due to the storms.

Combined with January's net loss (excl reorg items) of $115 million, DL can breakeven for the first quarter with a net profit (excl reorg items) of only $158 million in March.

 

[chucky]

Excluding reorg items, DL actually lost $43 million in February, which is probably what most majors with extensive NE operations lost in Feb due to the storms.

Combined with January's net loss (excl reorg items) of $115 million, DL can breakeven for the first quarter with a net profit (excl reorg items) of only $158 million in March.

Ed Bastian has already stated that Delta will lose between
$25 and $50 million for the first quarter:


Delta sees April 30 as Ch. 11 departure date
By RUSSELL GRANTHAM
The Atlanta Journal-Constitution

Published on: 03/27/07

With its bankruptcy case winding down, Delta Air Lines spent the day Tuesday trying to convince industry analysts that the "new Delta" is ready to soar on Wall Street after it emerges from Chapter 11 in about a month.

Executives said they are confident Delta's creditors will back its reorganization plan, adding they expect it to emerge from Chapter 11 on April 30 as a financially strong carrier with plans to continue expanding overseas.

"We're going to have the cost structure, we're going to have the balance sheet, we're going to have the revenue acceleration," Chief Financial Officer Ed Bastian said, adding that Delta's "untapped potential" is both the carrier's biggest opportunity and biggest problem.

"We realize we have to prove it to you," said Bastian at the conference in Atlanta, which was Webcast. "We're not out there saying buy the story. We're saying buy the potential."

To realize that potential, Delta plans to continue strategies it projects will yield $816 million in pre-tax profit this year, including its wholesale expansion to overseas markets such as Moscow and Lagos, Nigeria. In the airlines' crosshairs at the moment: new destinations in Latin America and Asia.

However, Bastian said Delta also expects a first-quarter loss of between $25 million and $50 million — down markedly from a $350 million loss in the same period last year.

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[LGA Fleet Service]