Northwest Airlines reports third quarter 2008 financial results

Northwest Airlines Corporation reported a third quarter 2008 net loss of $317 million, or $1.20 per share. The reported results include a $410 million non-cash charge associated with marking-to-market out-of-period fuel hedges as required by Statement of Financial Accounting Standard (SFAS) 133, Accounting for Derivative Instruments and Hedging Activities. Excluding this charge, Northwest reported an adjusted net income of $93 million for the quarter, or $0.35 per share. These results compare to the third quarter of 2007 when Northwest reported an adjusted net income of $232 million, excluding charges related to SFAS 133.