September 6, 2018 / 12:32 AM / 9 months ago

Delta Air Lines begins offering a stake in its refining subsidiary

Sept 5 (Reuters) - Delta Air Lines has hired two investment banks to offer a stake in its Monroe Energy refining subsidiary, signaling it wanted a partner to shoulder the risk of running an energy business.

The Atlanta-based airline acquired the 185,000-barrels-per-day refinery in 2012 for $150 million in a bet that it could lower its cost of jet fuel, the higher expense for any airline.

Reporting by Jessica Resnick-Ault and Jarrett Rensaw in New York; Writing by Gary McWilliams; Editing by Sandra Maler

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