January 21, 2016
Delta Air Lines said Tuesday that its refinery in Trainer, Delaware County, produced a profit of $8 million in the fourth-quarter and a profit just under $300 million for the full-year 2015. "For the fourth quarter our total fuel expense declined by over $700 million driven by lower market fuel prices," chief financial officer Paul Jacobson said in a conference call on the company's earnings. Falling oil prices will help Delta save $3 billion this year, Jacobson said. Delta, the first U.S. airline to report fourth-quarter results, earned $926 million, or $1.18 a share, in the quarter ended Dec. 31. Analysts had expected Delta would earn $928 million, or $1.19 a share.
January 20, 2016
In the Region Rittenhouse plan revised Southern Land Co. is negotiating with the Rittenhouse Plaza's condo owners to buy a three-story annex beside their building to accommodate more retail space at its adjacent 1911 Walnut residential tower proposal. The Nashville-based developer would use the space to extend two stories of retail planned for the Walnut Street side of the project, multifamily development director Dustin Downey said Tuesday. The space would likely be sectioned for use by two restaurant tenants, said Downey.
October 16, 2015 |
Delta Air Lines said Wednesday that its refinery in Trainer, Delaware County, posted a $106 million profit in the third quarter, compared with $19 million a year ago. "Our total fuel expense declined by over $1 billion in the quarter as lower market fuel prices more than offset higher consumption," chief financial officer Paul Jacobson said in a conference call on the company's earnings. Lower crude-oil costs and increased production helped boost the refinery's profit, Jacobson said.
October 3, 2015 |
Ever been on a plane and wondered whether your luggage made the flight? Now, American Airlines passengers can track their checked bags - in real time - by going to the American website, and typing in bag claim information. American, which transports 76 percent of air travelers in Philadelphia, introduced the service on Aug. 21. Carriers that offer real-time luggage tracking include US Airways, which is now part of American, and Delta Air Lines. Southwest and United Airlines do not offer the service.
July 3, 2015 |
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.
April 17, 2015 |
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.
December 13, 2014 |
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.
October 18, 2014 |
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.
July 25, 2014 |
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.
July 22, 2014 |
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.