Delta Air Lines Reports June 2008 Quarter Financial Results
Wednesday July 16, 7:30 am ET
Company reports $137 million profit excluding special charges
Unprecedented fuel prices increase costs by more than $1 billion
ATLANTA, July 16, 2008 (PRIME NEWSWIRE) -- Delta Air Lines (NYSE
AL) today reported results for the quarter ended June 30, 2008. Key points include:
* Delta's net income for the June 2008 quarter excluding special
charges was $137 million, or $0.35 per diluted share, despite
a more than $1 billion year-over-year increase in fuel input
costs related to higher prices.(1,2,3)
* Including special charges of $1.2 billion, Delta's reported
net loss for the June 2008 quarter was $1.0 billion, or $2.64
per diluted share.
* Delta's merger with Northwest Airlines is targeted to close
during the fourth quarter of 2008. The company expects
approximately $2 billion in annual merger-related synergies by
2012 with cash integration costs of approximately $600 million
over three years.
* As of June 30, 2008, Delta had $4.3 billion in unrestricted
liquidity, including $1 billion available under its revolving
credit facility.
Story
Not bad...considering oil prices et al.
Wednesday July 16, 7:30 am ET
Company reports $137 million profit excluding special charges
Unprecedented fuel prices increase costs by more than $1 billion
ATLANTA, July 16, 2008 (PRIME NEWSWIRE) -- Delta Air Lines (NYSE
AL) today reported results for the quarter ended June 30, 2008. Key points include:* Delta's net income for the June 2008 quarter excluding special
charges was $137 million, or $0.35 per diluted share, despite
a more than $1 billion year-over-year increase in fuel input
costs related to higher prices.(1,2,3)
* Including special charges of $1.2 billion, Delta's reported
net loss for the June 2008 quarter was $1.0 billion, or $2.64
per diluted share.
* Delta's merger with Northwest Airlines is targeted to close
during the fourth quarter of 2008. The company expects
approximately $2 billion in annual merger-related synergies by
2012 with cash integration costs of approximately $600 million
over three years.
* As of June 30, 2008, Delta had $4.3 billion in unrestricted
liquidity, including $1 billion available under its revolving
credit facility.
Story
Not bad...considering oil prices et al.
