Analysis: Delta's Refinery Bid Looks Better On Second Glance

NEW YORK (Reuters) - Delta Air Lines' expected bid to buy a Pennsylvania oil refinery has had people in both industries joking that a company from the money-losing airline sector would be right at home in the money-losing world of East Coast refining.

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  • Delta Airlines Buys Oil Refinery to Control Fuel Prices
    Delta Airlines has agreed to buy ... industries through downward cycles. Others view Delta’s purchase as a defensive maneuver to prevent a run-up in fuel costs. According to the Reuters analysis, the refinery’s only other bidders wanted to run it ...
    05/1/2012 - 9:00 pm | View Link
    (Corrects purchase price to $180 mln to exclude $30 mln government offset with changes to first and 13th paragraphs) REUTERS - Delta Air Lines Inc (DAL.N) will buy a Pennsylvania oil refinery from ... New York, said Delta's statement did not address ...
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    Delta's purchase was also "driven somewhat by the alarming rate of shutdowns" of refineries in the northeastern US, President Ed Bastian said. One challenge for Delta may be showing that it can operate the Trainer refinery more profitably than its previous ...
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