Delta 2005 losses hit $3.9 billion
Troubled Delta Air Lines, currently in Chapter 11 bankruptcy, has recorded a 2005 fourth quarter net loss of £689 million with full year deficits hitting $3.9 billion.
It compares to a net loss in 2004 of $5.3m.
The fourth quarter results includes $463m in special items and reorganisation.
Delta executive vice president and chief financial officer Edward H Bastian described the losses as “not sustainable.”
“These losses emphasise the need for the urgency in which we have to pursue route network and revenue improvements and the use of the bankruptcy process to reduce the cost and complexity of our business,” he said.
“2006 will be a year for Delta to stabilise our financial situation.”
He said restructuring was already producing improvements although it was being masked by the high cost of fuel.
Fuel costs in the fourth quarter increased $420m over the same period in 2004 will full year costs rising $1,534m.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers reduced timetable to over 60 destinations
Hands In, UATP join forces for airline multi-card payments
AirlineRatings reveals world's safest airline rankings for 2026
Vietnam warns airlines of possible flight reductions amid jet fuel shortages
Fliggy opens AI-powered travel bookings and developer tools