Delta Airlines, Monroe refinery… NYTimes

August 12, 2020 by Jim Colburn Leave a Comment

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):

https://www.forbes.com/sites/uhenergy/2016/06/02/delta-ceo-admits-to-4-billion-lost-in-hedging-fuel-costs/#479de4313383

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