Delta Air Lines said on Tuesday it lost $712 million in the fourth quarter largely due to fuel hedge settlements, although the carrier topped analysts' estimates and offered positive outlook for the start of 2015.
The Atlanta-based carrier lost 86 cents per diluted share, including a $1.2 billion charge for mark-to-market adjustments on fuel hedges, which Delta had announced. Delta also said its refinery produced $105 million in profit.
The airline earned $649 million, or 78 cents per diluted share, excluding special items, compared with the average analyst estimate of 77 cents per diluted share, according to Thomson Reuters I/B/E/S. The Wall Street estimates excluded special charges.