Carrier’s loss widens

Wednesday, Nov. 12, 2003 | 9:24 a.m.

ATLANTA -- Delta Air Lines, the nation's third-largest carrier, today predicted larger losses for the fourth quarter than had been anticipated.

Officials at the Atlanta-based company blamed an anticipated $140 million payout to its pilot pension plan, resulting from a significant increase in the number of pilots retiring.

The airline estimated that net losses for the quarter ending Dec. 31 could total $365 million to $415 million. On Oct. 14, Delta said its estimated net loss for the quarter would be between $225 million and $275 million.

The estimates include a $26 million charge, announced in October, related to Delta's agreement to sell 11 planes.

Unlike the plane sale, the pension fund payout had not been anticipated in earlier financial predictions, Delta officials said.

archive