[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Wednesday, 14 February 2007, 15:36 GMT
Delta sees quarterly losses widen
Delta Air Lines planes
The carrier hopes to come out of bankruptcy protection this spring
Delta Airlines, operating under Chapter 11 bankruptcy protection, has seen fourth-quarter net loss widen by 60%.

The carrier lost $1.98bn (1bn), as against a $1.24bn loss a year ago.

Delta saw its third straight quarterly operating profit and first full-year operating profit since 2000. It said it should emerge from bankruptcy soon.

In January, Delta's creditors backed plans for the airline to remain independent, as its board rejected plans for a merger with US Airways.

"There is great momentum building towards a successful emergence from Chapter 11 this spring as a strong, healthy and independent global competitor," chief executive Gerald Grinstein said in a statement.

Late in January, Delta secured exit financing commitments from six major banks for $2.5bn, seen as a major step in fending off US Airways' intentions.

For the quarter, revenue rose 5.3% to $4.14bn, from $3.93bn in the same period a year ago.

Excluding reorganisation and other one-time items, the loss was $179m.

US Airways abandons Delta offer
31 Jan 07 |  Business
Delta gains bankruptcy financing
30 Jan 07 |  Business
US Airways raises offer for Delta
10 Jan 07 |  Business
Delta rejects US Airways merger
19 Dec 06 |  Business

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Americas Africa Europe Middle East South Asia Asia Pacific