Delta Air Lines clings to $7M profit in 4Q

BY JOSHUA FREED AP AIRLINES WRITER MINNEAPOLIS (AP) – Delta says its fourth-quarter profit was nearly wiped out by Superstorm Sandy and special charges. Delta recorded a profit of $7 million for the quarter, or a penny per share. During the same period last year it earned $425 million, or 51 cents per share.
Delta says that without special items it would have earned $238 million, or 28 cents per share. Revenue rose 2 percent to $8.6 billion. Both its adjusted profit and its revenue were slightly better than expected by analysts surveyed by FactSet. Superstorm Sandy hurt revenue by $75 million. The storm slowed down the re-opening of Delta's new oil refinery, causing a $63 million loss at the refinery. Shares of Delta Air Lines Inc., based in Atlanta, are up a penny to $13.62 in premarket trading. © 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More Business

Main Street receives national accreditation

The Main Street Newnan program has been designated as an accredited National Main Street Program for meeting the commercial district revital ... Read More

Published on Friday, May 03, 2013

Downtown Newnan

Main Street Market Days return Saturday

Market Days on the Square, organized by Main Street Newnan, returns Saturday, May 4. Each month vendors showcase homemade, homegrown, or han ... Read More

Published on Thursday, May 02, 2013

Up 42 Percent

Delta Air Lines boosts CEO pay

ATLANTA (AP) — The CEO of Delta Air Lines saw his compensation jump 42 percent last year as the airline boosted his long-term incentiv ... Read More

Published on Tuesday, April 30, 2013

New Construction

Several plans in works for Coweta

“We hear the economy is a little sluggish. That is not what we are seeing. We are seeing the economy turning around.” That&rsquo ... Read More

Published on Tuesday, April 30, 2013

New Studios Planned

Big growth likely for Georgia's film industry

ATLANTA (AP) — A few years ago, Georgia was locked in a bidding war with North Carolina over the Disney movie, "The Last Song," starri ... Read More

Published on Monday, April 29, 2013