24 October 2012 22:57 [Source: ICIS news]
HOUSTON (ICIS)--US-based Delta Air Lines expects its recently acquired Trainer refinery in Pennsylvania will break even or contribute to profits in the fourth quarter this year, the company said on Wednesday.
Jet fuel production began at the 185,000 bbl/day refinery in the third quarter, and the company said the facility should be fully operational in the fourth quarter.
Delta said that Trainer’s production should generate a contribution of $25m (€19.25m) or break even.
“Production levels at Trainer are continuing to ramp up and we are pleased with the initial results we’re receiving from the facility,” said Delta CEO Paul Jacobson during the company’s third quarter results conference call.
“Jet fuel production began in September and we anticipate the refinery to be at full production run rate in November,” he said.
Delta said its average fuel price in the third quarter was $3.14/gal, 5 cents/gal higher than the same period in 2011.
Earlier this year, Delta said it expected third quarter fuel prices to be around $3.09/gal.
Jacobson said fuel prices in the fourth quarter should be between $3.15-3.20/gal.
($1 = €0.77)
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