Delta foresees $500M loss for fourth quarter

26th Dec 2001

Delta Airlines said it expects to report a $500 million loss for the fourth quarter, excluding the aid money it received from the federal government and other one-time gains and charges.
With those one-time gains and charges, the final figure could be even worse.

The fourth-quarter financial aid from the federal government and income from the sale of Delta`s equity in SkyWest Airlines will amount to about $370 million after taxes.

Delta, however, is estimating the one-time gains will be more than offset by unusual charges for the quarter that will range from $550 million to $700 million after taxes.

Delta revealed the figures in a filing with the Securities and Exchange Commission, in which it also said it expects to end the quarter with $2.5 billion in cash and near-term liquidity.




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