Delta Air Lines (NYSE: DAL) 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.
Delta also announced Thursday operating highlights for August. They included the opening of a new 127,000-square-foot state-of-the-art engine repair shop, which will support the next-generation Rolls-Royce powerplants featured on Delta's Airbus A350 and the forthcoming A330-900neo through the Maintenance Repair and Overhaul business
Delta also installed seat-back entertainment on its 600th aircraft, giving more customers than ever convenient access to free in-flight entertainment on Delta Studio, and offering more aircraft with seat-back entertainment than any airline in the world
The company announced new Summer 2019 trans-Atlantic flying to include expanded service to Paris and Amsterdam from Los Angeles; expanded service to Paris and Tel Aviv from New York-JFK, and new service to Amsterdam from Tampa
Aligning the corporate customer program with joint venture partner Air France-KLM in an industry-first program to enhance benefits for the corporate travel experience, including better seats and priority boarding.
Delta Air Lines serves more than 180 million customers each year. Earlier this year, Delta was named to Fortune's top 50 Most Admired Companies in addition to being named the most admired airline for the seventh time in eight years.
Shares in the airline picked up 22 cents early Thursday to $57.43.
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