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

An armed pro-Russian separatist stands guard as OSCE and members of a Malaysian air crash investigation team inspect the crash site of Malaysia Airlines Flight MH17, near the village of Rozsypne, Donetsk region on July 22, 2014.

Evolving Ukraine Crisis Tests Obama Foreign Policy

Downing of Malaysian jet over eastern Ukraine ramped up pressure on US - and EU - to act More