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BULLETIN: Delta Air Lines Reports Second-Quarter Loss Jul 02
Standard & Poors, July 2002
Abstract
Delta Air Lines Inc. (BB/Negative/--) reported a net loss of $186 million for the second quarter of 2002, reflecting an industrywide weak revenue environment. Standard & Poor's ratings, which were lowered to current levels June 28, 2002, and outlook for the company are not affected. Delta's pretax loss margin of 8.3% was better than that reported by AMR Corp. and than those expected from UAL Corp. and US Airways Group Inc., but worse than those reported by Continental Airlines Inc. and Northwest Airlines Corp., continuing the pattern of recent quarters. The domestic market, particularly for business travel, continues to be the main revenue problem, with Delta's European (benefiting from its SkyTeam alliance with Air France) and Latin American operations performing...
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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