Northwest Airlines Slips To Loss In Q2 - Update
Wednesday July 23, 2008 14:45:00 EDT

(RTTNews) - Wednesday, Northwest Airlines Corp. (NWA), which is in the process of merger with Delta Air Lines, reported a net loss for the second quarter, compared to a profit last year, hurt by an impairment charge and higher fuel costs.

The Eagan, Minnesota-based company reported second-quarter net loss of $377 million, or $1.43 per share, compared to a net profit of $2.1 billion in the same quarter last year.

The latest quarter include a net non-cash impairment charge of $547 million and a $250 million gain associated with marking-to-market out-of-period fuel hedges, while the year-ago quarter included a gain of $1.9 billion related to reorganization items. Excluding the impairment charge, Northwest reported net income of $170 (continued...)