Delta Air Lines Expects 2nd-Quarter Loss
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Delta Air Lines Inc. expects a second-quarter loss of $170 million, excluding one-time items, because of lower fares and revenue after the Sept. 11 attacks, Chief Executive Leo Mullin said.
“Despite 17 attempted fare increases over the past 30 days, none has succeeded,” Mullin told investors attending a Merrill Lynch transportation conference. Delta shares fell $1.41 to $23.10 on the NYSE.
The loss will be about $1.38 a share, based on the 123.2-million shares outstanding at the end of the first quarter. Analysts were expecting the carrier to have a loss of $1.43 a share.
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