Delta Air posts narrower loss

Delta Air Lines Inc, which aims to exit bankruptcy this spring, on Friday posted a narrower loss for January amid increased capacity and higher ticket prices. Delta, the No 3 US carrier, had a net loss of $109 million, compared with $300 million in January 2006 as passenger unit revenue rose 3.7 percent.
"January's results were in line with our plan, for what is typically Delta's slowest travel month," said Chief Financial Officer Edward Bastian in a statement. "We remain on track to emerge from bankruptcy as a strong, healthy and independent carrier this spring." Delta fended off a hostile take-over attempt from US Airways Group Inc earlier this year.
Delta, which has been in Chapter 11 bankruptcy protection since September 2005, said operating expenses were essentially flat from the previous year. But unit operating costs fell 2.7 percent as capacity rose 2.9 percent. The company had $2.6 billion in unrestricted cash, cash equivalents and short-term investments at January 31.