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    April 30, 2012

Delta Airlines to Produce Its Own Jet Fuel

   VOA News

   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.

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