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BULLETIN: Delta Air Lines Reports Loss Jul 03
Standard & Poors, July 2003
Abstract
NEW YORK (Standard & Poor's) July 17, 2003--Delta Air Lines Inc. (BB-/Negative/--) reported a second-quarter pretax loss before special gains of $380 million, somewhat worse than the $310 million loss on a comparable basis in the 2002 second quarter. Standard & Poor's Ratings Services said its ratings and outlook are not affected. The results reflect damage from the Iraq war, high fuel prices, and continuing adverse industry revenue conditions. Delta's pretax loss margin, before special items, of negative 11% is somewhat disappointing compared with AMR Corp.'s negative 8%, Northwest Airlines Corp.'s negative 7.9%, and Continental Airlines Inc.'s break-even margin, underlining the cost challenge facing Delta. Delta projects a net loss of $200 million to $250 million in the third quarter,...
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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