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Old 10-16-2002, 12:36 AM   #1
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Worst Q3 loss for Delta

Worst Q3 loss for Delta

Quote:
Delta Air Lines is to defer deliveries of new aircraft for the next two years after it reported its worst third-quarter loss in its 73-year history.
The decision to postpone delivery of 29 Boeing jets scheduled for 2003 and 2004 is aimed at cutting capital expenditure by $1.3bn.

The fleet reorganisation will come as a heavy blow to Boeing, Delta's sole supplier of jets of more than 100 seats, which reports its third-quarter results on Tuesday.

The aircraft maker has warned it would take a $250m charge in the quarter to reflect the impact the industry downturn has had on aircraft values. Delta said it was grounding its fleet of 15 long-haul Boeing MD-11s from early next year to reduce operating costs.
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