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Earnings Roundup

In case you haven’t seen all of the earning reports of the past couple of days, I’ll just let you know that they were miserable.  In short, Delta lost $1.08 billion last quarter ($684 million excluding 1-time charges), while Northwest lost $458 million.  Delta’s $1 billion loss was on $3.65 billion in revenue for Delta, which is amazing when you think that it costs Delta something like $1.30 to bring in $1 of revenue.  Yikes.  I especially liked that virtually each airline noted that excess capacity in the industry depressed revenue, as if they had nothing to do with that. 

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