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Delta posted $69 million profit in July

SHARE Delta posted $69 million profit in July

ATLANTA — Delta Air Lines Inc., the nation's third-largest carrier, said Wednesday it made a profit of $69 million in July, marking its first monthly net gain since the company entered Chapter 11.

The Atlanta-based company said in a bankruptcy court filing that excluding reorganization items, it had net income of $99 million in July. Revenue for the 31-day period was $1.71 billion. The net profit for the month was the first since Delta entered bankruptcy in September 2005, spokeswoman Betsy Talton said.

A year ago, Delta said it had a net loss of $41 million in July. It did not say how much revenue it earned in that month a year ago.

Delta has lost more than $16 billion since January 2001 but in recent months has been narrowing its losses and even posting some monthly adjusted profits as it restructures its costs and benefits along with the industry from higher ticket prices.

Delta is expecting to emerge from Chapter 11 by the middle of 2007.