Delta Air Lines begins offering a stake in its refining subsidiary

  • Delta Air Lines has hired two investment banks to offer a stake in its Monroe Energy refining subsidiary, signaling it wants a partner to shoulder the risk of running an energy business.
  • The airlines acquired the refinery in 2012 for $150 million.
A Delta Air Lines Boeing 747-400 ready to depart from Tokyo Narita airport.
Fabrizio Gandolfo| SOPA Images | LightRocket | Getty Images
A Delta Air Lines Boeing 747-400 ready to depart from Tokyo Narita airport.

Delta Air Lines has hired two investment banks to offer a stake in its Monroe Energy refining subsidiary, signaling it wanted a partner to shoulder the risk of running an energy business.

The Atlanta-based airline acquired the 185,000-barrels-per-day refinery in 2012 for $150 million in a bet that it could lower its cost of jet fuel, the higher expense for any airline.