NYTimes.com Article: Delta Sees Net Loss Up to $380 Million

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Delta Sees Net Loss Up to $380 Million

March 19, 2002

By REUTERS




Filed at 8:47 a.m. ET

WASHINGTON (Reuters) - Delta Air Lines Inc. (news/quote)
(DAL.N) said on Tuesday it expects to report a quarterly
net loss of between $350 million to $380 million as it
deals with higher security and insurance costs from the
Sept. 11 attacks.

In a filing with the Securities and Exchange Commission,
the No. 3 U.S. airline said the range for the quarter
ending in March does not include any impact from its
decision to discontinue paying base commissions to travel
agents.

It also excludes previously announced unusual and
non-recurring operating costs of $90 million, net of tax,
in 2002. The expenses, Delta said, are a direct cost of
capacity reductions as well as requalification training
costs for pilots.

Delta expects to record $25 million, net of tax, of that
charge in the quarter, it added in the SEC filing.

The shares of the Atlanta-based carrier closed on Monday at
$35.26 on the New York Stock Exchange.

http://www.nytimes.com/reuters/business/business-airlines-delta-outlook.html?ex=1017547114&ei=1&en=3bd0a12ba2c0b319



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