Delta says more job cuts needed after reporting loss of $326 million ATLANTA (AP) =97 Delta Air Lines reported a third-quarter loss of $326=20 million Tuesday and said more job cuts are on the way as the airline=20 continues to struggle following last year's terrorist attacks. The nation's= =20 third-largest airline also said it will continue to slash its flight=20 schedule and announced plans to mothball its fleet of large MD-11 aircraft= =20 next year to save money. "Obviously, these results are disappointing,"=20 chief executive Leo F. Mullin said. He said financial pressures "will=20 require us to announce in the very near future, to our utmost regret,=20 staffing reductions beyond the 1,500 flight attendant positions throughout= =20 the company already indicated." The loss of $2.67 per common share came=20 during the peak summer travel season. Excluding one-time costs, the net=20 loss was $212 million or $1.75 per share, a narrower loss than the $1.84=20 per share loss forecast by analysts surveyed by Thomson First Call. In=20 morning trading on the New York Stock Exchange, shares of the airline rose= =20 96 cents to $8.46. "It's still pretty disappointing," said Garrett Chase,=20 an airline analyst for Lehman Brothers. "But there's nothing here to make=20 you feel any worse." During the same quarter last year, Delta had a net=20 loss of $259 million, or $2.13 per share. The airline reported third-quarter revenues of $3.42 billion, up slightly=20 from $3.39 billion for the same period last year. Since Jan. 1, Delta has reported a net loss of $909 million or $7.46 per=20 share, compared with a loss of $482 million or $4 per share for the same=20 nine-month period last year. Atlanta-based Delta said it incurred one-time= =20 costs of $139 million related to market value reductions in its fleet of=20 MD-11 and B-727 aircraft, offset by $22 million in government aid approved= =20 since the Sept. 11, 2001, attacks. Delta said future cost-cutting plans=20 include grounding its fleet of 15 MD-11 aircraft, most by next summer, and= =20 replacing them on international flights with smaller planes normally used=20 domestically. The airline also plans to defer all deliveries of new aircraft in 2003 and= =20 2004. And Delta will cancel its daily, nonstop flights from Atlanta to Rio= =20 de Janeiro and Buenos Aires after Nov. 30. The owner of Roger's Trinbago Site: Roj (Roger James) *************************************************** escape email mailto:ejames@escape.ca Trinbago site: http://www.tntisland.com CBC Website http://www.tntisland.com/caribbeanbrassconnection/ The Trinbago Site of the Week: (ReadyMix) http://www.readymix.co.tt/ (ReadyMix Cement Ltd) courtesy of Roj Trinbago Website & TnT Web Directory Roj's Trinbago Website: http://www.tntisland.com TnT Web Directory: http://search.co.tt *********************************************************