Welcome To Airline Math 101, Please Take Out Your Abacuses

There may be light at the end of the bankruptcy tunnel for Delta Air Lines... but there's also a lot of red. The Atlanta, GA-based carrier announced this week its fourth quarter loss increased to almost $2 billion, due to its continued reorganization efforts.

Conversely, the airline also said it posted its first operating profit in six years.

CBS Marketwatch reports Delta's quarterly loss increased to greater than $1.98 billion, up from its previous loss of $1.24 billion. That includes $1.8 billion in charges related to reorganization, though -- and Delta notes without those charges, the carrier would have lost "only" $179 million.

Yeah, that's still a lot of money... but it's better than the airline's previous loss, excluding charges, of $782 million.

Furthermore, Delta notes, its yearly operations actually recorded a positive income of $58 million -- the airline's first such operating profit since 2000, and a sign of momentum as Delta works to exit bankruptcy this spring.

"A full year operating profit, and the magnitude of the progress it represents, marks a major milestone for Delta," said Delta CEO Gerald Grinstein. "With court approval of the company's disclosure statement earlier this month, there is great momentum building towards a successful emergence from Chapter 11 this spring as a strong, healthy and independent global competitor."

A final court hearing on Delta's reorganization plan is scheduled for April 25.

FMI: www.delta.com