The ultimate fuel hedge: Delta buys US oil refinery

Delta Airlines is buying an oil refinery in Pennsylvania for US$150 million to help fight rising fuel costs, airline officials said this week.


ConocoPhillips Delta Airlines jet fuel Phillips 66 Trainer Refinery


Delta Airlines is buying an oil refinery in Pennsylvania for US$150 million to help fight rising fuel costs, airline officials said this week. Delta CEO Richard Anderson said his company had reached an “innovative” deal to buy the Trainer refinery in Philadelphia from the ConocoPhillips gas company Phillips 66. “Acquiring the Trainer refinery is an innovative approach to managing our largest expense,” Anderson said in a statement, adding that the carrier expects to recover its investment  in the first year of operations.