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 This material may not be published, broadcast, rewritten or redistributed.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

The purpose of it all

I visit with businesses all the time. It’s part of my job to be out there in the trenches, on the street talking and building client r ... Read More


Business Briefs

Wendy’s coming to Newnan Crossing Construction is moving along quickly on the new Wendy’s on the Newnan Crossing Bypass, near t ... Read More


CharterBank donates $5,000 to local organizations

The winners of CharterBank’s annual Customer Voting Program received $5,000 donations from the Charter Foundation. The local organizat ... Read More


Business Briefs

BJ’s donates $21,000 to Atlanta Community Food Bank In honor of the 30th anniversary of BJ’s Membership Club, and to commemorate ... Read More


Second mile service part of legacy of Chick-fil-A’s Cathy

S. Truett Cathy, founder of the successful Chick-fil-A restaurant chain, died early Monday at the age of 93. As a business owner, Cathy was ... Read More

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