• ITVI.USA
    16,014.360
    14.660
    0.1%
  • OTLT.USA
    2.799
    -0.006
    -0.2%
  • OTRI.USA
    22.430
    0.240
    1.1%
  • OTVI.USA
    15,995.600
    10.280
    0.1%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.020
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    0.010
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  • TSTOPVRPM.LAXDAL
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    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
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    0.070
    3%
  • TSTOPVRPM.LAXSEA
    4.130
    0.020
    0.5%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    16,014.360
    14.660
    0.1%
  • OTLT.USA
    2.799
    -0.006
    -0.2%
  • OTRI.USA
    22.430
    0.240
    1.1%
  • OTVI.USA
    15,995.600
    10.280
    0.1%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.020
    -0.7%
  • TSTOPVRPM.CHIATL
    3.620
    0.010
    0.3%
  • TSTOPVRPM.DALLAX
    1.330
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    3.570
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.390
    0.070
    3%
  • TSTOPVRPM.LAXSEA
    4.130
    0.020
    0.5%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

Delta mentions possibility of bankruptcy

Delta mentions possibility of bankruptcy

   Delta Air Lines, which lost $383 million in the first quarter this year, publicly acknowledged for the first time it may be forced to seek bankruptcy protection if it cannot bring down its costs.

   In a quarterly filing with the Securities and Exchange Commission, the Atlanta-based carrier blamed its pilot salaries, the highest in the industry, for its inability to reach its goal of cutting non-fuel based costs by 15 percent. Speculation about a possible Delta bankruptcy increased on Wall Street a few weeks ago when Delta published its unofficial first-quarter results.

   Those numbers show yield declined 2 percent from the previous year despite a 6 percent increase in passenger traffic. Cargo revenues increased 8 percent to $122 million in the period ending March 31 primarily due to increased security and fuel surcharges and favorable foreign currency exchange rates. Cargo ton mile yield increased 7 percent.

   Delta would join US Airways and United as other major U.S. carriers who have recently tried to restructure under bankruptcy. United plans to emerge from bankruptcy protection this summer.

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