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

News Summary: Delta Air Lines 4Q profit hurt by Superstorm Sandy, special charges

Associated Press

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.

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