Delta posts $71 million February operating loss

By Caroline Salls

Pittsburgh, March 30 - Delta Air Lines, Inc. reported a $71 million operating loss for February on $1.21 billion of revenue, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

The operating loss shows improvement over a $147 million operating loss in January on $1.22 billion of revenue.

The net loss for February was $209 million, down from a $300 million January net loss.

Delta ended February with $2.17 billion in cash and cash equivalents, compared with $2.1 billion at the end of January.

"Six months into our reorganization, we are seeing tangible results from the various initiatives implemented under our business plan," executive vice president and chief financial officer Edward H. Bastian said in a company news release.

"While we are encouraged by the progress we are making, we are still in the early stages of our turnaround efforts. We need to remain focused to ensure flawless execution of all elements of our business plan."

Delta, an Atlanta-based airline, filed for bankruptcy on Sept. 14, 2005. Its Chapter 11 case number is 05-17923.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.