Delta Air Lines reported net income of $1.77 billion for the second quarter, a striking turnaround from a $2.21 billion loss in the year-ago period, as it emerged from bankruptcy on April 30 and benefited from one-time reorganization gains in the June quarter. Excluding reorganization items, which included noncash adjustments to its revalued assets and liabilities that "significantly impacted" its balance sheet, DL posted net income of $274 million for the quarter. CEO Gerald Grinstein said ...

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