Delta Air Lines to buy Pennsylvania refinery

5/1/2012

ATLANTA — Delta Air Lines Inc. will become the first airline to own a refinery, announcing Monday that it will buy a Pennsylvania facility from ConocoPhillips for $150 million.

Delta said the purchase would allow it to cut jet fuel costs — which reached $12 billion last year — by $300 million. It said production at the refinery along with other agreements to exchange refined products for jet fuel would provide 80 percent of the carrier's U.S. fuel needs.