Delta reports $6.4 BILLION loss for 1st qtr.

[XShuttle]

Delta reports $6.4B loss in first quarter
Wednesday April 23, 7:35 am ET
Delta says it lost $6.4 billion in first quarter on hefty fuel costs, market value decline ATLANTA (AP) -- Delta Air Lines, the nation's third-largest carrier, says its loss widened in the first quarter to a whopping $6.39 billion due to soaring fuel prices and the steep decline in the company's market value.The results badly missed Wall Street expectations, despite a 12 percent increase in sales.
The Atlanta-based company said Wednesday the loss is equivalent to $16.15 a share. That compares with a loss of $130 million that Delta reported in the year-ago January-March quarter, when it was still in bankruptcy.
Excluding special items, primarily a $6.1 billion non-cash charge relating to the decline in Delta's market value due to sustained record fuel prices, the airline lost $274 million, or 69 cents a share, in the first quarter.
Analysts expected a loss of 49 cents a share, excluding one-time items.

 

[CatfishVT9]

Delta reports $6.4B loss in The Atlanta-based company said Wednesday the loss is equivalent to $16.15 a share. Analysts expected a loss of 49 cents a share, excluding one-time items.

Holy crap!

 

[ultrarunner]

Wait until we see the losses when oil hits 200 bucks a barrel.

We 'aint seen nuthin' yet!

 

[HomerJ]

Get the spin machine warmed up...

 

[Bavarian Chef]

BILLION? One time charge? Huh?


here's the spin: excluding special one-time charges they only lost 274 million

NWA release is next ...

 

[spinproof]

The Atlanta-based company said Wednesday the loss is equivalent to $16.15 a share. Analysts expected a loss of 49 cents a share, excluding one-time items.

This is HUGE!!!!!!!!!!!!!! Looks like they only missed expectations by a mere $15.66 a share!!!! Whoa Nellie!!!

 

[EMBpilot]

BILLION? One time charge? Huh?


here's the spin: excluding special one-time charges they only lost 274 million

NWA release is next ...

I wonder if Delta bean counters are cooking the books to make the merger seem more necessary.

 

[Jonny Sacko]

Billion? Billion? It might as well be kajillion. Billion? How can companies stay in business losing BillionS? Wow. Is this true?

 

[jehtplane]

Get the spin machine warmed up...

Yeah really. After the General gets done playing broke back mountain with the CEO he will chime in with some good BS.

 

[Tantrum]

Ok just to make sure everyone gets it...the 6.1 billion NON CASH write off is really meaningless except from a tax position. Claiming that will actually decrease their tax liability moving forward. If you really want to compare DAL to any other carrier than just look at the $274 million loss. Yes that's still a big number, but definitely more in line with what other carriers are posting.