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Delta Reports 1st Quarter LossApril 20, 2010 By: George Dooley
Delta Air Lines reported financial results for the March 2010 quarter, including a net loss excluding special items of $192 million. This is $501 million better than the prior year quarter excluding special items, Delta said. The net loss was $256 million for the quarter.
In the quarter, Delta realized more than $200 million in incremental synergy benefits, the airline said and generated $1 billion in operating cash flow. Delta said it ended the March 2010 quarter with $5.6 billion in unrestricted liquidity.
"We are encouraged by the improvements we continue to see in the revenue environment. We expect the positive revenue trends to continue and to be solidly profitable in the June quarter," said Richard Anderson, Delta's CEO. "Delta's merger (with Northwest) is quite successful and, through the hard work of the Delta people, we have now achieved $1 billion in annual run-rate synergies."