ATLANTA (AP) - Delta Air Lines lost $1.4 billion in the final
three months of last year as it recorded a massive charge related
to employee stock awards and wasn't able to fully benefit from the
decline in oil prices because of bad bets on fuel hedges.
The Atlanta-based carrier's net loss was equivalent to $2.11 a
share for the October-December period, compared to a loss of $70
million, or 18 cents a share, for the same period a year earlier.
Excluding special items, Delta said it lost $340 million, or 50
cents a share. Analysts surveyed by Thomson Reuters, who generally
exclude one-time items from their estimates, expected a loss of 34
cents a share.
Revenue rose 43 percent to $6.7 billion in the quarter, compared
to $4.7 billion a year earlier.