Delta Air Lines has reported a loss of one-billion dollars in the 2nd quarter of this year. But the carrier expects to make back more than that amount once the proposed Northwest merger goes through.
Delta actually recorded a profit of 137-million dollars for the three months ending June 30th. But including special charges to its balance sheet, the profit swung sharply to a loss of one-billion dollars.
Delta president Ed Bastian in a company webcast today said a bulk of the expenses came in the form of a reduction of its workforce with severance and early retirement packages to four-thousand employees. That totaled to a cost of 96-million dollars.
Atlanta-based Delta is in the process of its acquisition of Northwest airlines. The airline expects additional revenue or cost savings from the combination will generate two-billion dollars in the next 4 years.
The proposed merger is currently under review by regulators, and is expected to close by the end of the year.
Delta actually recorded a profit of 137-million dollars for the three months ending June 30th. But including special charges to its balance sheet, the profit swung sharply to a loss of one-billion dollars.
Delta president Ed Bastian in a company webcast today said a bulk of the expenses came in the form of a reduction of its workforce with severance and early retirement packages to four-thousand employees. That totaled to a cost of 96-million dollars.
Atlanta-based Delta is in the process of its acquisition of Northwest airlines. The airline expects additional revenue or cost savings from the combination will generate two-billion dollars in the next 4 years.
The proposed merger is currently under review by regulators, and is expected to close by the end of the year.
