Delta reports 2nd quarter net loss of $168m

Delta Air Lines (DAL) reported financial results for the June 2012 quarter. Delta’s net income, excluding special items, for the June 2012 quarter was $586 million, Delta’s June 2012 quarter GAAP net loss was $168m (compared to net income of 198m in 2011), including mark-to-market adjustments on open fuel hedges and other special items. Delta’s unit revenues were up 8.5% for the quarter and the company has produced a unit revenue premium to the industry for fifteen consecutive months. Delta ended the June 2012 quarter with $5.3bn in unrestricted liquidity and adjusted net debt of $12.1bn.