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Delta blames Comair strike for loss in the 2nd quarter

SHARE Delta blames Comair strike for loss in the 2nd quarter

Delta Air Lines lost $90 million in the second quarter, blaming low demand for high-priced business travel, more expensive jet fuel and a three-month strike at its Comair regional carrier unit.

But the loss was not as severe as analysts had expected, and Delta said it would have turned a profit if not for the Comair strike.

Delta said the loss, equal to 76 cents per share, was alleviated by an upturn in revenue in late June. Delta earned $460 million, or $3.51 per share, in the same period of 2000.

Excluding unusual items, Delta had an operating loss of $123 million, or $1.03 per share, beating the $1.20 per share loss expected by analysts surveyed by Thomson Financial/First Call. In the same period of 2000, Delta had operating profit of $374 million, or $2.85 per share.