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 This material may not be published, broadcast, rewritten or redistributed.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

Business Briefs

BJ’s offers 'Farm to Club' program BJ’s Wholesale Clubs in Georgia, including the Newnan location, are adding fresh Georgia pea ... Read More


Business People

Black a new VP at Batson-Cook Newnan resident Nancy Black has been named vice president of human resources for Batson-Cook Construction. B ... Read More


Businesses fail – why?

It’s not a surprise that business development is relatively unsuccessful. There are so many areas a company needs to understand about ... Read More


Grit & Grace

New dance boutique aims to empower female athletes

Over a casual but serendipitous lunch last year, two friends discovered a shared vision: Empowerment for women whose dedication to their phy ... Read More


Newnan-Coweta finalist for 2015 Chamber of the Year

The Newnan-Coweta Chamber has been named as a finalist in the 2015 Chamber of the Year competition by the Association of Chamber of Commerce ... Read More

Shared Wisdom

Why I am thrilled about the future of social media

I am incredibly passionate about connecting people, networking organizations, removing the veil of the organizational hierarchies, and gaini ... Read More