It seemed like a good idea at the time… Here is Clifford Krauss and Niraj Chokshi, NY Times:
“Monroe, in Trainer, Pa., lost $114 million in the second quarter, and its future appears bleak. In 2018, Delta announced that it was interested in finding a partner to jointly own and operate it, but it never found any takers.
“The refinery may not even be a live albatross,” said Tom Kloza, global head of energy analysis at Oil Price Information Service. “We don’t see jet fuel becoming a marquee moneymaker for refiners again until the middle of the decade, if then.””
Delta hasn’t done well hedging either (Forbes, 2016):