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Delta Reports Wider Loss Despite Revenue Gain

Delta Reports Wider Loss Despite Revenue Gain

Posted - Oct. 20, 2004 at 7:59 a.m.



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ATLANTA (AP) -- Delta Air Lines is reporting a much wider third-quarter loss despite a rise in revenue.

The Atlanta-based airline warned today that its financial situation has worsened to the point that it needs to reduce its costs quickly to turn things around.

The nation's third-largest airline says it lost 651 (m) million dollars -- or more than five dollars a share -- for the three months ending September 30th.

That compares to a loss of 168 (m) million dollars -- or one dollar and 36 cents a share -- in the same period a year ago.

Analysts believe the airline has only a few weeks left to win one (b) billion dollars in concessions from pilots and restructure its heavy debt to avoid a Chapter Eleven filing.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

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