The Northwest Airlink program, still recovering from the major carrier’s bankruptcy, posed a 47 percent increase in revenues during the third quarter when it took in $557 million. Expenses, however, were not even half the revenues at $257 million, a growth of 42 percent. The major carrier said regionals would grow 50-55 percent during the fourth quarter and another 45-50 percent next year.
Meanwhile, Northwest Airlines Corporation reported a third quarter 2008 net loss of $317 million, or $1.20 per share. The reported results include a $410 million non-cash charge associated with marking-to-market, out-of-period fuel hedges as required by Statement of Financial Accounting Standard (SFAS) 133, Accounting for Derivative Instruments and Hedging Activities. Excluding this charge, Northwest reported an adjusted net income of $93 million for the quarter, or $0.35 per share. These results compare to the third quarter of 2007 when Northwest reported an adjusted net income of $232 million, excluding charges related to SFAS 133.