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 This material may not be published, broadcast, rewritten or redistributed.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

City of Grantville

Councilmen warned for conduct, comments

By Clay Neely clay@newnan.com Two members of the Grantville City Council were served with a writ prior to their meeting on Monday. The writ ... Read More


City of Grantville

Garcia signed to one-year contract

Four months after coming aboard as police chief of Grantville, Javier Garcia was awarded a one-year contract on Monday. Garcia also is curre ... Read More


Caregiver arrested for stealing from elderly couple

A woman suspected of stealing both the identities and thousands of dollars from an elderly Sharpsburg couple was arrested over the weekend. ... Read More


NFL pro Ogletree provides meals to families

Newnan native and professional football player Alec Ogletree visited Newnan on Tuesday to give back to his hometown in time for the holiday ... Read More


Roommate arrested for assault

A Newnan man was arrested Friday after he allegedly assaulted and threatened his roommate for not paying his bills. About 12:20 p.m., Office ... Read More

Suspected marijuana dealer arrested

A man suspected of selling marijuana out of his home was arrested Friday following an investigation by the sheriff’s office’s c ... Read More