Delta Air Lines "disappointed" with Q1 loss figure

14/04/2004 - 15:16:52
Delta Air Lines said today that although its first-quarter net loss narrowed from a year ago, it was disappointed with the figure and said that rising jet fuel costs had taken a toll.

The US airline reported net losses for the first three months of this year at $383m (€321.7m), much improved on the 2003 first quarter net loss of $466m (€391.5m).

CEO Gerald Grinstein said that the quarter was "disappointing" and that more tough times lie ahead.

"The urgent task is to achieve a competitive cost structure so that Delta can generate a positive cash flow, reduce its debt burden and return to profitability," he said in a statement.

The airline's load factor- the amount of available seats filled - for the March 2004 quarter was 70.6%, a 1.7% increase on last year.