Edward Bastian, chief financial officer for Delta Air Lines, told CNBC's "Squawk Box" that the company’s plan to emerge from bankruptcy assumes oil will be priced at $65 a barrel or higher.
He said the company’s estimate of $800 million in pre-tax profit assumes the price of oil will rise. Oil on the New York Mercantile Exchange recently fetched $64.65 a barrel, up $1.72 on Middle East jitters, including Iran's seizure of 15 British sailors.
“We’re going to be in great shape,” Bastian said Wednesday. “We’ve got our debt pared down considerably. We’re going to have the best cost structure of any of the network carriers in the industry. We’ve got accelerating revenue momentum.”
He said Delta expects to emerge from bankruptcy protection at the end of April or early May. It again will trade on the New York Stock Exchange under the symbol DAL.