Delta posts net income of $69 million in July
Delta Airlines posted a net income of $69 million for July in its monthly operating report to the U.S. Bankruptcy Court for the Southern District of New York, compared to a net loss in July 2005 of $41 million. The latest result included a $30 million loss related to reorganization items.
As of July 31, Delta had $4 billion of cash, cash equivalents and short-term investments, of which $3 billion was unrestricted.
“July’s results reflect the continued momentum of our restructuring,” said Edward H. Bastian, Delta’s executive vice president and chief financial officer. “The hard work and sacrifice of the Delta people are making a tangible difference, resulting in more than a billion dollar improvement in our operating performance year to date. In the coming months, the challenge will be to sustain this momentum as we move into a traditionally slower season for our industry.”