Originally Posted by
acl65pilot
We made a 50 million dollar OPERATING profit. That means that if we did not have all of these "one time losses" we would have made money. What it means is that the operation of putting people and cargo on the jets made money. The operation of hedging, merging et al did not. We made money operationally last quarter too!
Read the full press release on delta.com, it will take about 30-40 mins but worth your time.
Actually, if you look close I think you'll find that the hedging losses were folded into the operating numbers. They were not included in the special items.
We would have made nearly $300 million on an operating basis if management had not lost all that money on fuel contracts.