Delta Cites Fuel Costs for $26 Million Quarterly Loss

Delta Air Lines reported results for the quarter ended Sept. 30, 2008. Excluding special items, Delta’s net loss for the quarter was $26 million, or $0.07 per diluted share, despite a more than $800 million year-over-year increase in fuel costs related to higher prices.

Delta’s reported GAAP net loss for the quarter was $50 million, or $0.13 per diluted share. Delta and Northwest remain on track to close their merger during the fourth quarter of 2008. In March, Delta unveiled plans to cut 2,000 jobs, offering voluntary retirement and “early out” programs, but said later that more than 4,000 employees had chosen to take part in the programs.

As of Sept. 30, 2008, Delta had $3.1 billion in unrestricted cash, cash equivalents and short-term investments.