News Summary: Sandy hurts Delta Air's 4Q profit

The Associated Press
January 22, 2013

THE IMPACT: Delta said Superstorm Sandy hurt fourth-quarter profits by $100 million. That, plus special charges, left Delta Air Lines Inc. with a profit of just $7 million.

DOUBLE WHAMMY: All airlines saw a profit impact from Sandy. But Delta's loss was larger because the storm also slowed its efforts to restart its new oil refinery near Philadelphia.

WHAT'S NEXT: Delta is cutting first-quarter flying as much as 4 percent. Airlines have generally been minimizing growth so they can charge more.