Delta Air Lines Reports June 2008 Quarter Financial Results

Delta Air Lines (NYSE:DAL) today reported results for the quarter ended June 30, 2008.

Key points include:
• Delta’s net income for the June 2008 quarter excluding special charges was $137 million, or $0.35 per diluted share, despite a more than $1 billion year-over-year increase in fuel input costs related to higher prices.1,2,3 • Including special charges of $1.2 billion, Delta’s reported net loss for the June 2008 quarter was $1.0 billion, or $2.64 per diluted share. • Delta’s merger with Northwest Airlines is targeted to close during the fourth quarter of 2008. The company expects approximately $2 billion in annual merger-related synergies by 2012 with cash integration costs of approximately $600 million over three years. • As of June 30, 2008, Delta had $4.3 billion in unrestricted liquidity, including $1 billion available under its revolving credit facility.

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