Restructuring, slashing employee benefits and various other cost saving plans have paid off for the carrier. However the month of September was bad for them as they company lost over $300 million in that month alone.
Northwest, the nation’s fifth-largest airline, said it still expects a “modest profit” for all of 2006 on $12 billion in revenue, not counting reorganization expenses. It predicted a loss once bankruptcy expenses are included. Northwest also said it would lose money — even without bankruptcy expenses — during the last four months of the year.
“Our third quarter results are a significant improvement over last year’s results and demonstrate further that we are making steady progress in restructuring Northwest Airlines,” said President and Chief Executive Doug Steenland.
MSNBC.com
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