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.
April 26, 2011 |
Surging fuel costs hampered US Airways Group and Delta Air Lines in the first quarter, with both airlines reporting losses Tuesday. US Airways said that traffic and revenue were up during the first three months, but that rising fuel costs, winter weather, and the Japan crisis weighed on results. Philadelphia's dominant airline posted a loss of $114 million, or 71 cents a share - more than double the $45 million loss, or 28 cents a share, a year ago. "Our first-quarter results were clearly impacted by the extremely high price of oil," said US Airways chief executive officer Doug Parker.
April 16, 2016 |
After seven consecutive quarters of profitability, Delta Air Lines' refinery in Trainer, Delaware County, posted a $28 million loss in the first quarter of this year. Delta did not detail on a conference call with investors Thursday why the refinery lost money, after reporting an $8 million profit in the last three months of 2015 and a $106 million profit in the third quarter last year. Oil analyst Ben Brockwell at the Oil Price Information Service, who follows the aviation industry, said Trainer went "from black to red" for a couple of reasons: Higher costs for production ingredients and lower returns on the gasoline and diesel products the refinery produces and trades in exchange for jet fuel.
November 27, 2012 |
US Airways Group Inc. said Monday that Hurricane Sandy hurt October revenue by $30 million, and reduced October profit by $15 million. Philadelphia's dominant airline, transporting nearly 70 percent of air travelers, said that November earnings will be hurt by about $20 million because of the storm. The airline said given the impact on travel in the Northeast total bookings fell by 13 percent in the days leading up to, and after, the storm between Oct. 24 and Nov. 3, compared with the same period last year.
January 3, 2012
US Airways Group Inc. announced Tuesday it will begin nonstop daily seasonal summer service from Philadelphia to Salt Lake City on May 24. Additionally, US Airways will add another daily frequency on March 25 between Philadelphia and St Louis, Mo.; Nashville, Tenn., Houston; Albany, N.Y.; Bangor, Maine; and Indianapolis. Separately, US Airways announced new daily flights at Washington Reagan National airport, where it acquired some takeoff and landing rights from Delta Air Lines.
December 16, 2011
Delta Air Lines Inc. will begin four daily flights between Philadelphia and New York's LaGuardia airport on July 11 as part of an expansion in New York because it is swapping some takeoff and landing rights with US Airways Group Inc. Delta will operate flights from here to New York at 7 a.m., 10:45 a.m., 2 p.m., and 5:45 p.m., and flights leaving LaGuardia for Philadelphia at 9 a.m., 12 noon, 4 p.m., and 8:05 p.m. daily. Delta said Friday it will spend $100 million to expand LaGuardia's C and D terminals, which will be connected by a 600-foot bridge.
March 1, 2013 |
The oil refinery in Trainer owned by Delta Air Lines received its first shipment of Bakken crude oil from North Dakota on Feb. 12. The test shipment traveled in more than 100 rail cars to Albany, N.Y., where it was moved to a ship, and transported to Delta's docks in Trainer. "We are still evaluating our crude sourcing options. We don't currently have a facility to off-load from rail at Trainer," Delta spokesman Trebor Banstetter said. "If we decide to go ahead fully into the Bakken to get our crude, then we would invest in some rail facilities there, and it would come by rail all the way to the refinery.
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.
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.
October 24, 2013 |
Delta Air Lines said Tuesday its refinery in Trainer, Delaware County, posted a $3 million profit for the three months ended Sept. 30. It was the first quarterly profit since Delta bought the former ConocoPhillips refinery last year to supply itself with jet fuel. "We have a tremendous opportunity with the Trainer refinery," Delta CEO Richard Anderson told investors on a conference call discussing third-quarter financial results. "Importantly, the refinery's production has proven to be effective in keeping jet cracks in check, particularly in the New York harbor.