Delta Air Lines is bankrupt but profitable thanks to a $98 million noncash gain from reorganization items that propelled it to a $52 million net profit in the third quarter, a monumental reversal from the $1.13 billion loss incurred in the year-ago period. The special gain was related primarily to decreases in previously estimated pre-petition bankruptcy claims for the restructuring of aircraft financing arrangements, Delta said. Excluding the gain, it suffered a net loss of $46 million ...

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