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BULLETIN: Delta Air Lines Reports Loss, Outlook Still Negative Oct 03
Standard & Poors, Oct 2003
Abstract
NEW YORK (Standard & Poor's) Oct. 14, 2003--Delta Air Lines Inc. (BB-/Negative/--) reported a third-quarter 2003 net loss of $164 million ($172 million before special items), narrower than the $326 million loss ($212 million before special items) in 2002's third quarter, but still disappointing given gradually recovering airline industry revenues and better results expected from several other large airlines. Standard & Poor's Ratings Services said its ratings and outlook on Delta are not affected. Delta's revenues per available seat mile (unit revenues) increased by 8%, more than offsetting a 4.1% rise in cost per available seat mile (unit cost). Management predicts a fourth-quarter 2003 net loss of $225 million to $275 million (including a $26 million special charge). Liquidity remains...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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