Hi Bill I'm back. Just in case you forgot I figured I sent a nice little reminder. If you can't understand the following I suggest to inquire about a translation from someone who has a real degree.
ATLANTA Delta Air Lines Inc., which is operating under bankruptcy protection, reported Wednesday a wider fourth-quarter loss of nearly $2 billion because of hefty restructuring items.
The Atlanta-based company said it lost $1.98 billion for the three months ending Dec. 31, compared to a loss of $1.24 billion a year ago.
Excluding reorganization and other one-time items, the loss was $179 million.
Delta said its aircraft fuel costs fell 8.2 percent to $1.04 billion in the fourth quarter, compared to $1.13 billion a year earlier.
As of Dec. 31, Delta said it had $2.6 billion in unrestricted cash on hand.
Earlier Wednesday, Delta said it lost $1.84 billion in December alone.
The huge loss for the final month of 2006, which amounted to $9.34 a share, was reported in a bankruptcy court filing.
Excluding reorganization items, Delta said it lost $109 million in December. Revenue for the 31-day period was $1.34 billion.
For all of 2006, Delta said its net loss was $6.21 billion, compared to a loss of $3.84 billion for the same period a year ago. The loss for 2006 includes stock dividends that accrued for preferred shareholders.
The loss for 2006 raises Delta's losses to $18.5 billion since January 2001.
Delta said it spent $4.32 billion on aircraft fuel for all of 2006, a 1.1 percent increase from the $4.27 billion it spent for all of the previous year.
Delta hopes to emerge from bankruptcy as early as April as a standalone carrier with a projected value of $9.4 billion to $12 billion.
