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Delta's monthly financials improve

Delta Air Lines posted a net loss for April, but the numbers are improving and the airline says it's "on track" in its Chapter 11 restructuring.

Delta said late Wednesday that its net loss for April 2006 was $27 million, versus a net loss of $163 million in April 2005. Minus restructuring charges, Delta (Pink Sheets: DALRQ) had a net profit of $22 million.

As of April 30, Delta had $3.4 billion in cash, cash equivalents and short-term investments, of which $2.5 billion was unrestricted.

The numbers were better compared with previous months -- the airline lost $2.1 billion over its first quarter this year.

"April's results are an encouraging indicator that our plan is working," said Edward Bastian, executive vice president and chief financial officer.

Atlanta-based Delta has extracted concessions from most of its work force. On Wednesday, its pilots approved an agreement with cuts in pay and benefits that will save the airline about $280 million annually.

Delta operates its second-largest hub from the Cincinnati/Northern Kentucky International Airport.

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