Delta Air Lines’s flagship, the Boeing 777-200LR. (Photo credit: Wikipedia)
Delta Air Lines said Tuesday its refinery in Trainer, Delaware County, posted a $3 million profit for the three months ended Sept. 30.
It was the first quarterly profit since Delta bought the former ConocoPhillips refinery last year to keep supplied with jet fuel.
“We have a tremendous opportunity with the Trainer refinery,” Delta CEO Richard Anderson told investors on a conference call discussing third-quarter financial results. “Importantly, the refinery’s production has proven to be effective in keeping jet cracks in check, particularly in the New York harbor,” he said.
The “crack spread” is the difference between the cost of crude oil and the selling price of jet fuel – it’s the price paid to refiners.
Read more at http://www.philly.com/philly/business/20131023_Delta-owned_Trainer_refinery_posts_profit.html#7zFHTHAbykYR1tAY.99
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