Delta Air Lines posted a narrower second-quarter loss on Thursday but shares in the No 3 US carrier plunged on revived speculation that it could file for bankruptcy. The airline, widely seen as the weakest US carrier, also said it had decided to defer delivery of eight Boeing 737-800 aircraft from 2006 to 2008.
The Atlanta, Georgia-based airline posted a quarterly loss of $388 million, or $2.64 a share, after payment of preferred dividends, compared with a loss of $1.97 billion, or $15.79 a share, a year earlier, which included one-time charges related to pensions and other items.
Delta's second-quarter results were depressed by a $96 million charge for pensions and related items, partially offset by an $18 million benefit from a reduction in its deferred income tax reserve.
Excluding one-time items, the second-quarter loss was $304 million, or $2.11 a share. Wall Street analysts had expected a loss of $2.39 a share.