Delta Airline's Trainer refinery in Pennsylvania has posted first-quarter profits of $86 million, according to the airline. The refinery has brought in profits of $220 million over the past four quarters.
Airlines are expecting planes to be fuller during the Thanksgiving holidays -- 150,000 more than in the previous year. Airlines for America's chief economist says that in the third quarter airlines saw a 5.6% increase in revenue -- but 10 of the largest U.S. airlines experienced 6.2% higher costs, reducing the profit margin to about 50 cents per passenger.
Delta Air Lines has reopened the former ConocoPhillips refinery in Trainer, Pa. Workers are returning to the refinery under the management of Delta subsidiary Monroe Energy. "We will be making gasoline, jet fuel and diesel just like every other refinery," said Jeffrey Warmann, president and CEO of Monroe Energy.
Delta Air Lines is considering purchasing an oil refinery near Philadelphia. Delta and other carriers have faced rising fuel costs over the past few years. "It sounds like it's the ultimate hedge," said Ray Neidl, an analyst at Maxim Group.