Delta Airlines exploring 'all options' for Trainer refinery
7/15/2020 10:25:54 AM
Delta Airlines is exploring “all options” for its Trainer refinery in Pennsylvania, but has no change in plans for operating the plant, Chief Financial Officer Paul Jacobson said.
The 185,000 barrel-per-day refinery in Trainer, owned by Delta (DAL.N) unit Monroe Energy, lost $114 million in the second quarter of 2020, according to the company. It is currently operating at reduced rates.
The loss was largely attributable to travel declines in April, Jacobson said.
The refinery is operating at “breakeven” economics, he said.
Delta Airlines had retained bankers to help sell the refinery a year ago.
Reporting by Laura Sanicola; Editing by Bernadette Baum
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