S&P's Delta ratings unaffected

Standard & Poor's said that Delta Air Lines Inc.'s (D) reported $1.2 billion net loss for the fourth quarter of 2005, which brought the full-year loss to $3.8 billion, was expected and will not immediately affect the company's rating. The net loss before reorganization and other special charges was $782 million, about the same as the loss on a like basis in the fourth quarter of 2004.

As at other airlines, very high fuel prices (which boosted fuel expense 26%) were a major factor in the loss, S&P said.

While consolidated revenue per available seat mile rose a healthy 8.4%, aided by better pricing in the domestic market, the agency said that "mainline" (not including regional operations) operating cost per available seat mile, excluding fuel and special charges, declined 7.1%.

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