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BULLETIN: Delta Air Lines Reports Heavy Loss Apr 05
Standard & Poors, April 2005
Abstract
NEW YORK (Standard & Poor's) April 21, 2005--Delta Air Lines Inc. (CC/Developing/--) reported a huge $1.1 billion net loss ($684 million before special charges relating mostly to pensions for employees being laid off) for the first quarter of 2005. Standard & Poor's Ratings Services said that its ratings and outlook on Delta are not affected. On April 19, 2005, ratings on most Delta debt obligations were lowered to current levels; the 'CC' corporate credit rating, already at the lowest level short of default, was affirmed. Delta's loss, expected to be the worst among U.S. airlines this quarter, was deepened by high fuel prices and loss of revenue (which the company said was in line with expectations) from introduction of its...
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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