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Delta Air Lines Rtgs Still on S&P CreditWatch, Pos Jan 96
Standard & Poors, January 1996
NY -- Standard & Poor's CreditWire 1/26/96 -- Standard & Poor's ratings of Delta Air Lines Inc. (see table below) remain on CreditWatch with positive implications, where they were placed Dec. 11, 1995. Rated debt totals $7.4 billion. Delta's Dec. 31, 1995 quarter earnings of $70 million, versus an $18 million loss in 1994, show continued progress on cost cutting. Operating cost per available seat mile ("unit cost") of 8.6 cents was in line with company projections and 4% below the like quarter in 1994. Management expects to meet its 8.0 cents unit cost target in its fiscal fourth quarter ending June 30, 1996 if it can implement a lower-cost pilot contract by April 1. By way of comparison, the...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: New Rating
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
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Delta Air Lines Inc.