Delta posts $794 million 1Q loss

[April 21, 2009]  ATLANTA, Ga. (AP) -- Delta Air Lines says it was hit hard by the weak economy in the first quarter, but narrowed its net loss to $794 million.

Delta said Tuesday the loss for the three months ended March 31 was 96 cents a share, and compares to a loss of $6.39 billion, or $16.15 a share, for the same period a year ago.

Revenue increased 40 percent to $6.68 billion, but that was skewed by Delta's acquisition of Northwest Airlines in October. In the year-ago quarter, before the acquisition, Delta posted revenue of $4.77 billion.

Analysts polled by Thomson Reuters, who generally exclude one-time items from their estimates, expected Delta to post a loss of $1.01 per share for the first quarter on sales of $6.7 billion.

[Associated Press; By HARRY R. WEBER]

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