Manufacturing Industry
Delta Air Lines to record charges in fourth quarter
Airline Industry Information, Nov 15, 2002
AIRLINE INDUSTRY INFORMATION-(C)1997-2002 M2 COMMUNICATIONS LTD
Delta Air Lines will record a "substantial" but unspecified non-cash charge at the end of 2002 for underfunded pension plans.
In a regulatory filing with the US Securities and Exchange Commission, the airline reveals that the charge will affect its balance sheet, but will not impact on earnings.
In the fourth quarter, Delta also expects to record unusual costs of USD16m for surplus pilots and grounded aircraft, USD42m related to the purchase of some outstanding employee stock, and other charges for severance, leaves of absence and early retirement, reported Reuters.
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