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Delta Air Lines

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BUSINESS
May 2, 2012 | By Linda Loyd and Andrew Maykuth
Delta Air Lines, hoping to secure a steady source of discounted jet fuel, announced Monday that it will buy the ConocoPhillips oil refinery in Trainer for the bargain price of $150 million. The nation's second-largest commercial airline says it hopes to reduce its fuel expenses by $300 million a year with the acquisition. Delta spent $11.8 billion on jet fuel in 2011, about 36 percent of its operating expenses. "Acquiring the Trainer refinery is an innovative approach to managing our largest expense," said Richard Anderson, Delta's chief executive officer.
BUSINESS
June 23, 2012 | By Andrew Maykuth and INQUIRER STAFF WRITER
The Pennsylvania Public Utility Commission on Thursday approved the transfer of pipelines connected with the ConocoPhillips refinery in Trainer, removing an obstacle to the refinery's sale to Delta Air Lines Inc. The PUC approved the late-hour request on a fast track after the companies involved in the sale realized that some pipelines came under the jurisdiction of the utility commission, and that regulatory approval was required. The application was filed on May 25. Commission chairman Robert F. Powelson extolled the PUC's contribution to efforts to assist in the Delaware County refinery's sale, which is being supported with $30 million in grants from the Corbett administration.
BUSINESS
December 14, 2012 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines, which now owns the refinery in Trainer, says Hurricane Sandy delayed the start of its new operation there. Instead of generating a modest profit in the first quarter, the plant will have a $50 million to $60 million loss. The good news: The pipelines are back online, and the distribution outlets "are in check," president Edward Bastian told analysts at Delta's investor day in New York on Wednesday. Production scheduled for 2013 at Delta subsidiary Monroe Energy L.L.C.
BUSINESS
April 17, 2015 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines said Wednesday that its Trainer refinery in Delaware County posted an $86 million profit in the first quarter of this year. Delta said the sharp drop in crude oil prices would translate into a $2.2 billion savings in jet-fuel costs in 2015. "Over the last four quarters, the refinery has produced a cumulative profit of over $220 million," chief financial officer Paul Jacobson said during a conference call on the company's earnings. Delta, whose report began airlines' earnings season, said it expected that the refinery would make about $80 million in the second quarter.
NEWS
May 1, 2012 | By Tom Belden, Inquirer Columnist
IN BUSINESS A13 A long time coming Sunoco saw itself as in need of a change. That strategy led to its pending sale. Delco's good news Delta Air Lines, hoping to secure a steady source of discounted jet fuel, will buy ConocoPhillips oil refinery in Trainer.
BUSINESS
July 25, 2014 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines said Wednesday that its Trainer oil refinery in Delaware County produced a $13 million profit in the second quarter. Delta, the first U.S. airline to report earnings, posted a second-quarter profit of $889 million, or $1.04 a share, that beat analysts' estimates, driven by strong passenger demand and higher revenue from corporate contracts. Revenue rose 9.4 percent to $10.6 billion. "We will post even better results in the third quarter, with a forecast operating margin of 15 percent to 17 percent," Delta chief executive officer Richard Anderson said on a conference call.
BUSINESS
July 11, 2012 | Linda Loyd
Delta Air Lines will begin new service between Philadelphia and New York LaGuardia Airport starting Wednesday. It's part of Delta's expansion in New York. The five flights to LaGuardia depart Philadelphia at 6:50 a.m., 10:35 a.m., 2:10 p.m., 4:08 p.m. and 7:48 p.m. Delta already serves JFK airport with three daily flights from Philadelphia. Delta wants "to become the preferred airline in New York" connecting passengers to "key business markets," said senior vice president Gail Grimmett.
BUSINESS
June 23, 2012 | Andy Maykuth
Delta Air Lines on Friday finalized its purchase of the ConocoPhillips refinery in Trainer and will begin to bring back about 400 employees who were laid off last year when the plant was idled. A Delta spokesman said that its subsidiary, Monroe Energy L.L.C., will start a turnaround at the Delaware County refinery after the July 4 holiday with the aim of resuming fuel production this fall. The airline paid $180 million for the plant, with the Corbett administration chipping in $30 million on the condition that Monroe maintain 400 employees for five years.
NEWS
December 13, 2011
US Airways Group Inc. and Delta Air Lines said Tuesday they closed a deal to swap some takeoff and landing rights at New York's LaGuardia Airport and Washington, D.C.'s Reagan National Airport. At Reagan, US Airways, the dominant carrier in Philadelphia, acquired 42 Delta slots, which translate into round-trip flights, along with international rights to fly to Sao Paulo, Brazil, in 2015. Delta will also pay $66.5 million to US Airways. In return, Delta acquired 132 slots at LaGuardia, to increase its presence in New York, where it has a hub at John F. Kennedy Airport.
BUSINESS
July 3, 2015 | By Linda Loyd, Inquirer Staff Writer
The U.S. Justice Department is investigating possible collusion among major airlines to limit capacity, or available seats, in an effort to keep airfares high. American Airlines, which operates a hub with 460 daily flights at Philadelphia International Airport, Delta Air Lines, United Airlines, and Southwest Airlines each confirmed receiving a letter from the Justice Department in connection with the agency's antitrust probe. All said they were cooperating. Justice Department spokeswoman Emily Pierce on Wednesday acknowledged an investigation into "possible unlawful coordination by some airlines," but declined to identify the carriers.
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BUSINESS
July 3, 2015 | By Linda Loyd, Inquirer Staff Writer
The U.S. Justice Department is investigating possible collusion among major airlines to limit capacity, or available seats, in an effort to keep airfares high. American Airlines, which operates a hub with 460 daily flights at Philadelphia International Airport, Delta Air Lines, United Airlines, and Southwest Airlines each confirmed receiving a letter from the Justice Department in connection with the agency's antitrust probe. All said they were cooperating. Justice Department spokeswoman Emily Pierce on Wednesday acknowledged an investigation into "possible unlawful coordination by some airlines," but declined to identify the carriers.
BUSINESS
April 17, 2015 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines said Wednesday that its Trainer refinery in Delaware County posted an $86 million profit in the first quarter of this year. Delta said the sharp drop in crude oil prices would translate into a $2.2 billion savings in jet-fuel costs in 2015. "Over the last four quarters, the refinery has produced a cumulative profit of over $220 million," chief financial officer Paul Jacobson said during a conference call on the company's earnings. Delta, whose report began airlines' earnings season, said it expected that the refinery would make about $80 million in the second quarter.
BUSINESS
December 13, 2014 | By Linda Loyd, Inquirer Staff Writer
Airline stocks soared Thursday after Delta Air Lines said the sharp drop in oil prices would translate into a $1.7 billion savings in fuel costs next year. Delta said at an investor conference in New York that its Trainer refinery in Delaware County would produce a $75 million profit in the current quarter, helping to offset losses on the airline's fuel-hedge contracts. Delta buys some of its fuel in advance, to hedge against higher costs. But when fuel prices dramatically decline, the airline is locked in and takes a hedge loss.
BUSINESS
October 18, 2014 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines said Thursday that its Trainer oil refinery in Delaware County produced a $19 million profit in the third quarter, and is expected to have a $20 million profit in the current fourth quarter. Delta, the first U.S. airline to report earnings, had Thanksgiving revenues up by 8 percent, and Christmas and New Year's bookings "look solid," company president Edward Bastian reported on a conference call. Management said it has seen no change in booking trends due to the Ebola outbreak in West Africa.
BUSINESS
July 25, 2014 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines said Wednesday that its Trainer oil refinery in Delaware County produced a $13 million profit in the second quarter. Delta, the first U.S. airline to report earnings, posted a second-quarter profit of $889 million, or $1.04 a share, that beat analysts' estimates, driven by strong passenger demand and higher revenue from corporate contracts. Revenue rose 9.4 percent to $10.6 billion. "We will post even better results in the third quarter, with a forecast operating margin of 15 percent to 17 percent," Delta chief executive officer Richard Anderson said on a conference call.
BUSINESS
July 22, 2014 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines' subsidiary Monroe Energy L.L.C. has signed a five-year agreement with a Texas-based company, Bridger L.L.C., to receive 65,000 barrels of domestic crude a day at its oil refinery in Trainer, Delaware County. The contract will supply about one-third of the crude refined daily at the former ConocoPhillips refinery, which Delta bought in 2012. The Trainer refinery supplies Delta's Northeast operations with jet fuel, the largest and most volatile expense for airlines.
BUSINESS
April 25, 2014 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines, which bought the former ConocoPhillips refinery in Trainer, Delaware County, to secure a steady source of discounted jet fuel, said Wednesday the refinery lost $41 million in the first quarter but is expected to be profitable in the current June quarter. Delta said one major crude unit at the refinery was shut down for scheduled modifications, which decreased production. To bring Trainer to profitability in 2014, Delta is making infrastructure changes to increase refined production, and boost jet and diesel production to roughly 50 percent of the refinery's total output, Delta chief financial officer Paul Jacobson said during a conference call.
BUSINESS
January 23, 2014 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines said Tuesday that its Trainer oil refinery in Delaware County would have a "small loss" in the current first quarter, after posting a loss of $46 million in the three months ended Dec. 31 and a $116 million loss for 2013. Delta executives said on a conference call that the 180,000-barrel-a-day refinery, operated by subsidiary Monroe Energy L.L.C., would "see a modest profit" for 2014, said chief financial officer Paul Jacobson. "We expect to see only a modest loss for the Trainer refinery in the March quarter, despite the pull-down of one of the main units for modifications," Jacobson told investors.
NEWS
January 4, 2014 | By Linda Loyd, Inquirer Staff Writer
The snowstorm expected late Thursday will impact travel to, from, and through the Northeast. US Airways Group, Southwest Airlines, and Delta Air Lines issued winter weather advisories. US Airways, the dominant airline at Philadelphia International Airport, is waiving change fees for travel through Jan. 8, and will extend the time limit if necessary, said airline spokesman Todd Lehmacher. Southwest, which does not charge change fees, said it is monitoring the storm as it moves through the Midwest to the Northeast, and warned travelers that scheduled flights may be delayed, diverted, or canceled.
BUSINESS
December 13, 2013 | By Linda Loyd, Inquirer Staff Writer
Delta Air Lines, which bought the former ConocoPhillips refinery in Trainer, Delaware County, to secure a steady source of discounted jet fuel, said Wednesday the refinery lost $100,000 in 2013, but is expected to be profitable next year. Although some analysts had expressed skepticism about an airline diversifying into oil refining, a capital-intensive business with low margins, Delta president Edward Bastian told investors Wednesday: "Let me be very clear. Trainer has been a great success for Delta.
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