Delta Air Lines posts narrowing losses

Delta Air Lines posts narrowing losses

US based Delta Air Lines has come out with their revenue reports and the company has posted narrowing losses. The company said that its loss narrowed in November to $49 million.

Market analysts believe that the company is nearing a situation when it can fly solo when it emerges from bankruptcy.

The company is also working hard on rejecting a hostile takeover bid from US Airways Group Inc.

These losses are much better figures when compared to losses of $181 million in the same period last year. George Hamlin, vice president of business consulting for aviation firm Morten Beyer & Agnew spoke on this performance: “It’s a move in the right direction. And if they want to remain independent, continuing improvement and results are necessary.”

Mike Miller, an aviation analyst at Washington-based consulting firm the Velocity Group added: “The financial improvement is a great sign that Delta’s making progress. However, they are still not turning a net profit. And they’re still apparently spending a million dollars a day or more on restructuring issues. A year and three months into bankruptcy, that’s not an insignificant amount to be spending every day.”