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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
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.
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.
TRAVEL
April 29, 2013 | By Christopher Elliott, TRIBUNE MEDIA SERVICES
Question: I recently booked two tickets through an online travel agency for my husband and me to fly to the Philippines. When I got his ticket, I noticed that "Jr. " was missing from his name. I went back to the site and discovered that there was no space provided where I can put a "Jr. " I called the agency, and a representative told me it was "not a big deal" and that I should not worry about it. They suggested I call Delta Air Lines to give them a "heads-up. " This weekend, I called Delta and asked them about the name issue.
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.
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.
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NEWS
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.
BUSINESS
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.
BUSINESS
October 16, 2015 | By Linda Loyd, Inquirer Staff Writer
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.
BUSINESS
October 3, 2015 | By Linda Loyd, Inquirer Staff Writer
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.
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.
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