Exclusive: Delta Air is trying to sell East Coast refinery - sources

FILE PHOTO: A Delta airlines flight arrives in Salt Lake City, Utah, U.S., Jan. 12, 2018. REUTERS/Mike Blake/File Photo - Copyright Mike Blake(Reuters)

By Reuters

Published on 01/02/2019 - 23:04•Updated 19/04/2024 - 06:16

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NEW YORK (Reuters) - Delta Air Lines Inc is redoubling efforts to sell an oil refinery in Trainer, Pennsylvania, after attempts to divest a stake in the plant late last year failed, according to two people familiar with the matter.

The Atlanta-based airline hired investment banks last year to offer a stake in its Monroe Energy refining subsidiary, signalling it wanted to share the risk of running an energy business.

The offer of a stake in the East Coast refinery, viewed as an undesirable market, failed to attract sufficient interest. Delta did not immediately respond to requests for comment.

(Reporting by Jarrett Renshaw and Jessica Resnick Ault)

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