Delta Air Lines Inc., the nation's third-largest carrier, reported a slightly narrower loss of $300 million in January, according to its monthly operating report filed with the bankruptcy court.
Delta filed for bankruptcy protection in New York in September. It is seeking another round of long-term pay cuts from its pilots as part of its recovery effort. Arbitration hearings to discuss the airline's request to throw out its pilot contract so it can impose more than $300 million in cuts begin March 13 in Washington.
The monthly report, filed Thursday evening, says the loss for the 31-day period compares with a loss of $314 million for the same period a year ago. It said that excluding one-time restructuring items, Atlanta-based Delta's loss would have been $213 million in January.
The figure brings Delta's total red ink since January 2001 to $12.6 billion. An industry downturn began that year, in which the Sept. 11 attacks also took place.
Delta said it continued to cut costs, adjust its route network and restructure aircraft leases in the month on which it reported. The carrier also said it received authorization from the bankruptcy court to resume buying fuel hedging contracts to try to reduce its exposure to upticks in fuel prices.
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Delta Air Lines Inc. :http://www.delta.com
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