"Delta lost $1.1 billion after bankruptcy filing"

Friday, December 2, 2005

Delta lost $1.1 billion after bankruptcy filing
By HARRY R. WEBER
The Associated Press


ATLANTA -- Delta Air Lines Inc., the nation's third-largest carrier, said it
lost a whopping $1.14 billion in the first six weeks of its bankruptcy case.

The Atlanta-based airline revealed the loss that amounted to $6.04 a share
for the Sept. 15-to-Oct. 31 period in a filing Wednesday night in U.S.
Bankruptcy Court in New York. Delta filed for bankruptcy Sept. 14.

Delta had already reported a third-quarter net loss of $1.13 billion for the
three months ending Sept. 30. It's not clear from Wednesday's filing how
much of the new loss occurred during October and how much came during the
last half of September.

A spokeswoman was not immediately able to break it down Thursday.

Excluding reorganization items, Delta said its loss for the first six weeks
of its bankruptcy case was $472 million.

The airline also said in its filing that it spent $2.61 billion in the first
six weeks of its bankruptcy case, much of it on fuel, salaries and interest
expense.

It said it spent $17 million on professional fees associated with its
bankruptcy case during the period. The company reported revenue of $1.95
billion for the six-week period.

Delta's net loss for the first six weeks of its bankruptcy case was more
than triple that of the $346 million that Northwest Airlines Corp. said it
lost during the same period. 

Northwest, based in Eagan, Minn., also filed for bankruptcy in New York on
Sept. 14.


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