Blame it on soaring fuel prices … now at round 118 dollars a barrel, say execs with the nation’s third largest airline. That coupled with a steep decline in Delta’s stock value, first quarter losses comes in at an astounding 6.39 billion dollars. The Atlanta-based airline said the loss is equivalent to $16.15 a share. That compares to a loss of 130 million dollars that Delta reported in the first quarter of 2007, when it was still in bankruptcy. The losses occurred despite Delta's increased passenger revenue of 10 percent in the first quarter of 2008, compared to the same period in 2007. Delta is currently in merger talks with Minnesota–based Northwest Airlines. Northwest reported a $4.1 billion loss in the first quarter. If the merger is approved by federal regulators and the stockholders of both carriers, the deal would create the world’s largest passenger airline.
