Delta Air Lines' Q1 net loss decreased to $130 million, after reporting a more than $2b loss in the same period last year. Excluding reorganization costs, its loss totaled $6m, compared to $356m last Q1. Delta benefited from lower operating costs and higher fares leading to an 11% increase in revenues to $4.14b. International passenger revenue rose 6.4% on higher capacity to Latin American and transatlantic markets. North American revenue increased 6.4%, despite a 5.4% capacity reduction. Reuters reports Delta "aims to exit Chapter 11 later this week ...." Shares of Delta trading on the pink sheets gained 10.8% to $0.205 on Friday, after having hit an all-time low of $0.145 earlier in the week.
Sources: MarketWatch, Reuters
Commentary: Positive Traffic Reports and Lower Oil Prices Boost Airline Stocks • US Airways Retracts Bid; Delta Reaches Deal with Creditors • Open Skies Agreement Between U.S. and China? Not Anytime Soon
Stocks/ETFs to watch: Delta Air Lines, Inc. (DAL). Competitors: US Airways Group, Inc. (LCC), AMR Corporation (AMR), Southwest Airlines Co. (LUV), UAL Corp. (UAUA), JetBlue Airways Corp. (JBLU)
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