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Page added on March 10, 2005
Delta Sees ‘Substantial Loss’ in 2005
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Delta Air Lines Inc., the nation’s third-largest airline, said Thursday it expects to report a “substantial” loss this year and warned it may have to seek bankruptcy protection if its financial situation worsens. Its shares tumbled 9 percent.
Delta was able to avoid bankruptcy late last year after its pilots agreed to $1 billion in concessions, including deep wage cuts. But its financial condition has continued to be under pressure in recent months as fuel prices have increased and it has faced challenges due to low passenger mile yields. |
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