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BULLETIN: Delta Air Lines Predicts Substantial 2005 Loss Mar 05
Standard & Poors, March 2005
Abstract
NEW YORK (Standard & Poor's) March 10, 2005--Delta Air Lines Inc. (CC/Watch Pos/--) disclosed in its 2004 10K filing that it expects to report 'a substantial net loss in 2005, and that [the company's] cash flows from operations will not be sufficient to meet all-liquidity needs for that period.' The disclosure does not affect Standard & Poor's Ratings Services' ratings or CreditWatch review on the company. The loss prediction is not surprising, given the very large $2.3 billion net loss from operations in 2004, the fact that cost cuts will take time to become fully effective, the competitive fare environment (which Delta contributed to with its introduction of 'SimpliFares' in January 2005), and high fuel prices. Delta's financial situation has...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: Bulletin
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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