News

Delta Airlines to Produce Its Own Jet Fuel

U.S.-based Delta Airlines will soon be the world's first air carrier to produce its own jet fuel.

Delta announced Monday it is buying a struggling oil refinery near Philadelphia from the Phillips 66 oil company for $150 million.

The refinery has been losing money and its owner had planned to shut it down, leading to thousands of job losses.

Delta chief Richard Anderson calls buying a refinery an innovative approach to managing the airline's largest expense.

Delta spent $12 billion on jet fuel last year, which was about 36 percent of its operating expenses.

Delta says making its own fuel will save it about $300 million a year.

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Feature Story

A protester takes pictures of fellow demonstrators as they block the main street to Hong Kong's financial Central district, September 29, 2014.

Multimedia Social Media Documenting, Not Driving, Hong Kong Protests

Unlike Arab Spring uprisings, pro-democracy protestors in Hong Kong aren't relying on Twitter and Facebook to organize, but social media still plays a role More

Special Reports