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Last Updated: Monday, 23 April 2007, 15:47 GMT 16:47 UK
Delta manages to cut its losses
Delta Air Lines planes
The carrier went into bankruptcy protection in September 2005.
Delta Air Lines, which expects to exit Chapter 11 bankruptcy protection by the end of this month, has managed to substantially cut its quarterly losses.

The third largest US airline made a loss of $130m (65m) in the first three months of 2007, compared with a loss of $2.1bn for the same period last year.

Delta went into bankruptcy protection in 2005, hit by higher costs and increased competition.

It has turned itself around after a major cost-cutting programme.

Delta has also expanded its international network to help attract more overseas passengers.

'Well positioned'

Its revenues for the first three months of 2007 rose 9% from a year earlier to $2.8bn, lifted by higher fares and increased capacity.

Despite signs of a mild industry-wide slowdown in domestic US flights, Delta said it was confident it can continue its recovery once it exits Chapter 11.

"We are well positioned to build on the momentum of our restructuring," said Delta's chief financial officer Edward Bastian.

Under US law, Chapter 11 allows struggling American companies protection from their creditors while they restructure their finances.


SEE ALSO
Delta sees end to bankruptcy woe
27 Mar 07 |  Business
Delta sees quarterly losses widen
14 Feb 07 |  Business
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

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