Hedging Forces Delta Into $712m Loss

US carrier Delta Air Lines has posted a net loss of $712m for Q4 2014, citing its decision to write down the value of its fuel-hedging contracts as a result of falling oil prices.

US carrier Delta Air Lines has posted a net loss of $712m for Q4 2014, citing its decision to write down the value of its fuel-hedging contracts as a result of falling oil prices.

In total, Delta paid $1.4bn in special charges during Q4, with the majority of that figure caused by hedging losses.

The carrier’s operating revenues rose six per cent to $9.65bn for the quarter, beating analyst pre-result expectations of $9.59bn.

Overall, the airline’s spending on fuel fell 83 per cent, bringing savings of $1.8bn compared with Q4 2013.

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