Delta loss tops $1 billion in first quarter

Delta Air Lines reported a staggering $1.08 billion net loss for the first quarter ended March 31, nearly three times higher than the $387 million net loss it posted last year, although hefty special items in both periods make comparisons difficult. Results for the 2005 quarter included $387 million in one-time net charges primarily related to a reduction in staff, while 2004 first-quarter results included a special $215 million income tax benefit. Excluding these items from both periods, ...