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.
July 26, 2013 |
Shares of Delta Air Lines and US Airways Group rose Wednesday after the airlines reported second-quarter earnings that exceeded analysts' estimates, on lower jet fuel costs and improved passenger demand. Delta shares closed up 1.71 percent to $20.80, while US Airways added 2.49 percent to $18.50. Saying this would be its last earnings call as a stand-alone company before the merger with American Airlines, US Airways president Scott Kirby noted, "We had a great run here at US Airways.
April 22, 2013 |
I'll bet that flying means to you roughly what it does to me: battling seat pockets that eat knee space. Emptying your inner life into plastic trays. Far above the clouds, another, better world exists: It's a paradise of infinite legroom and no one around to pat you down preflight. In fact, as a passenger in a private jet, you call the shots, even when it comes to buckling seatbelts. Celebrities and Romney-class politicians know this well. And so do I - since a business-owning pal let me fly aboard a JetSuite Embraer Phenom 100 from Providence, R.I., to New York.
December 26, 2012 |
We heard a lot four years ago about how quick and massive intervention by the U.S. and European governments kept the financial system from collapsing. But lenders who lost billions financing dumb property speculation, and were bailed out by public investments, are still having to cope with the government conditions that kept them in business. It's one reason the economy remains slow. For example, the Royal Bank of Scotland (RBS) has been resisting pressure to sell its U.S. arm, including Citizens Bank , to raise badly needed cash.
October 26, 2012 |
US Airways Group Inc. and Delta Air Lines posted higher quarterly profits Wednesday and said the revenue environment ahead looks fairly good. US Airways, which is in talks with bankrupt American Airlines about a potential merger, said third-quarter profit more than doubled to $192 million, or 98 cents a share, from $95 million, or 51 cents a share, a year earlier. That beat analysts' average estimates of 92 cents. "That's our second-best third-quarter profit in company history," US Airways chief executive Doug Parker said during a call with investors.
September 10, 2012 |
The question can be heard up and down the Camden block where Osvaldo Rivera allegedly stabbed a 6-year-old boy to death and slashed the boy's 12-year-old sister last Sunday: Was the man known as "Popeye," who played ball with neighborhood children and gave them haircuts on his porch not who he seemed or was the dreadful attack fueled by the drug concoction called "wet" that he allegedly told authorities he had smoked that night? In the Roosevelt Manor public housing complex where Rivera allegedly committed the crimes, where residents say drug abuse is commonplace, mothers last week clutched their children even tighter and kept an eye on the doors where they said known users live.
July 27, 2012 |
Higher fares and lower fuel costs helped give US Airways its most profitable quarter ever, as net profit reached $306 million in the three months that ended June 30. That compared with a net profit of $92 million during the comparable quarter in 2011. "We are extremely pleased," said chief executive officer Doug Parker, praising the airline's 32,000 employees. He said the airline's showing, a pretax margin of 8.6 percent, was better than that of any other airline except Southwest Airlines, which posted a 9.6 percent margin for the quarter.
July 16, 2012 |
When Delta Air Lines decided to buy the idled Trainer refinery outside Philadelphia to keep itself supplied with jet fuel, the announcement was met with a mix of skepticism, outright disbelief, and nods of approval from experts who follow the airline industry and oil and energy markets. Delta's move was smart, risky, insane, stupid, even brilliant — or all of those. "Is there a better investment than a refinery? Maybe not," wrote airline analyst Helane Becker in a client note.
July 4, 2012 |
Workers are returning to the former ConocoPhillips refinery in Trainer, to begin steps toward resuming fuel production in September, a move that new owner Delta Air Lines hopes can cut its jet-fuel bill by $300 million a year. A Delta subsidiary, Monroe Energy L.L.C., closed on the $180 million purchase of the idled oil refinery on June 22. Three days later, the first workers arrived to begin a turnaround, which is a maintenance procedure, and to modify some units and do routine inspections.
June 17, 2012 |
IN THE REGION Charming's sale complete Ascena Retail Group Inc. has completed its buyout of Lane Bryant owner Charming Shoppes Inc. and is taking steps to shed parts of the acquired business that it doesn't want. Ascena said in May that it was buying Charming Shoppes, of Bensalem, for about $890 million. The deal gives Ascena access to the large-size women's clothing market with Lane Bryant and Catherines Plus Sizes stores. But Ascena said Friday that it planned to close Charming Shoppes' remaining Fashion Bug operations by early next year and that it may sell Charming's direct-marketing business, Figi's.