May 12, 2012 |
Gov. Corbett is hailing it as "an important win for the local community and the people of Pennsylvania. " C. Alan Walker, secretary of the state Department of Community and Economic Development, calls it a "win-win for everybody. " Their effusive praise was for a taxpayer-aided deal that will see Delta Air Lines buy the recently idled ConocoPhillips gasoline refinery in Trainer. In an attempt to battle rising jet-fuel costs, Delta will refine its own at the site, which will supposedly save $300 million a year.
December 13, 2013 |
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.
October 30, 2012 |
Philadelphia International Airport, which curtailed flights for the superstorm, is back in business. At 1 p.m. Tuesday, Delta Air Lines resumed nine flights in and out of Philadelphia. Lufthansa Airlines landed a 4:30 p.m. jet from Frankfurt, and was sending a 6 p.m. return flight to Germany. US Airways Group, which operates 430 daily departures from Philadelphia, planned to resume a normal schedule Wednesday morning. Airport spokeswoman Victoria Lupica confirmed that Delta began flying Tuesday, as did Lufthansa.
January 23, 2014 |
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.
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.
April 25, 2014 |
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.
March 29, 2013 |
Have you ever been on a plane and wondered if your luggage made the flight? Now, US Airways passengers can track their checked bags - in real time - by going to the US Airways website, and typing in bag claim information. US Airways rolled out the service on all flights March 19. It is information the airline already had for internal purposes. Delta Air Lines was the first U.S. carrier to launch real-time baggage tracking. Passengers can go to the Delta website or download a free app to pull up information from the bar code on their bag-claim ticket.
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.
January 24, 2012 |
Hoping a fourth try will be the charm in its effort to tie the knot with another carrier, US Airways Group Inc. is said to be analyzing a possible bid to acquire bankrupt American Airlines. Although a bid is far from certain, and likely months away, Delta Air Lines and private-equity firm TPG Capital Group also are looking at American, according to published reports. US Airways has hired Millstein & Co. to examine American, and Delta has hired the Blackstone Group, the Wall Street Journal reported earlier this month.
July 21, 2011 |
US Airways Group Inc. and Delta Air Lines got the green light from regulators Thursday to swap some takeoff and landing rights at New York's LaGuardia and Washington's Reagan National Airports. At Reagan, US Airways - the dominant carrier in Philadelphia - will acquire 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 will get 132 slots at LaGuardia, currently used by US Airways Express flights, to increase its presence in New York, where it already has a hub at John F. Kennedy International Airport.