What Delta Airlines Will Gain From Buying Philly Refinery

Delta said Monday that it will pay $150 million for a refinery near Philadelphia that is being sold by division of ConocoPhillips. It’s aiming to slice $300 million a year from its jet fuel bill. Jet fuel is the refinery product that garners the fattest profit margin, “and they’re taking it from airlines,” Delta CEO Richard Anderson said.

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