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 This material may not be published, broadcast, rewritten or redistributed.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

Shared Wisdom

How to promote yourself without being vain

Is it possible to genuinely be interested in the needs of others, and still promote yourself? Absolutely, and it can be a “win/win&rdq ... Read More


Business Briefs

The Bullsboro Drive Starbucks has reopened after its renovation. * * * Boulevard Salon open in Avery Park Charlotte’s The Boulevard ... Read More


Bubbles & Brushes Art Studio

Creative local business finds success encouraging budding young artists

Growing up as a young artist, Joanna Harvey never pictured herself as a successful business owner. Initially, she had intended on being an a ... Read More


President and CEO of Niagara Bottling, LLC

60 Seconds with Andy Peykoff II

What do you consider to be your personal business philosophy? “The person who says it can’t be done should not interrupt the per ... Read More


Business Briefs

The Boneyard now at Collector’s Corner The Boneyard Antiques, formerly on Raymond Hill Road, is now at Collector’s Corner, at H ... Read More

End of an era

After three decades, Newnan Florist closing

Since 1977, Bill and Fran Exner have owned and operated Newnan Florist on Greenville Street. Through their years of overseeing weddings, fun ... Read More