ATLANTA, Jan. 27, 2009 – Delta Air Lines (NYSE:DAL) today reported financial results for the quarter and year ended Dec. 31, 2008. Key points include:
- Delta’s net loss for the December 2008 quarter was $340 million, or $0.50 per diluted share, excluding special items described below, and the impact of out-of-period fuel hedges.1 Results include $0.12 per diluted share from the negative non-cash impact of purchase accounting.
- Delta would have reported a $167 million net profit excluding special items in the December 2008 quarter, if fuel had been purchased at market prices.
- Delta’s reported net loss for the December 2008 quarter was $1.4 billion, including an over $900 million charge related to broad-based employee equity awards, and a $91 million loss on out-of-period fuel hedges.
- Delta completed its merger with Northwest on Oct. 29, 2008, creating the world’s largest airline.
- As of December 31, 2008, Delta had $6.1 billion in total liquidity and cash collateral posted with hedge counterparties.