Delta Future Still Evolving?

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A top Delta Airlines executive is defending the struggling carrier's transformation plan and reiterated the need to cut more costs, but Chief Financial Officer Michael Palumbo offered no new guidance on the possibility of a bankruptcy filing.

The airline serves several airports in Mississippi, including Meridian and Jackson, through regional carrier ASA.

Palumbo told analysts at an investor conference in New York that the nation's third-largest airline will need to dig deeper to slash costs because of high fuel prices.

Palumbo did not elaborate in his prepared remarks or in a question-and-answer session directly afterward on Delta's warning Tuesday in a regulatory filing.

The airline said then that it will record a substantial loss for the rest of the year and will need to file for bankruptcy if its cash reserves fall too low or lenders seek immediate payment of its debts.

Delta shares rose one cent to close at $2.78 in trading Friday on the New York Stock Exchange.