Delta posts $49 million net loss in November
Delta Air Lines, which recently rejected an $8.4 billion takeover offer from US Airways, posted a net loss of $49 million for November in its monthly operating report to the U.S. Bankruptcy Court for the Southern District of New York.
The latest monthly result compares with a net loss of $181 million in November 2005 and includes a $37 million loss related to reorganization items.
As of Nov. 30, Delta had $3.8 billion of cash, cash equivalents and short-term investments, of which $2.7 billion was unrestricted.
“November’s results continue the momentum that will deliver a nearly $2 billion year over year improvement in Delta’s net income excluding reorganization items for 2006,” said Edward H. Bastian, Delta’s executive vice president and chief financial officer, in a statement.
“These results reflect the strength of our business plan and further underscore our confidence to emerge from bankruptcy as a strong, standalone company in the spring of
2007,” he added.
Delta posts $49 million net loss in November
