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Delta Treasurer Leaves Post

Todd Helvie will be replaced by Paul A. Jacobsen.
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More changes are afoot in

Delta Air Lines'

(DAL) - Get Delta Air Lines, Inc. Report

executive suite.

On Monday, the nation's No. 3 carrier said its treasurer, Todd Helvie, had left the company.

Helvie is being replaced by Paul A. Jacobsen, a former Delta assistant treasurer who is returning to the airline after a four-month stint at




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A Delta spokeswoman declined to comment on the reasons for Helvie's departure. The change comes less than three weeks after a broader executive reshuffling at the carrier, which has seen its stock battered over heightened bankruptcy concerns.

On July 20, Delta appointed Jim Whitehurst, formerly its chief network and planning officer, to the post of chief operating officer. It also rehired Edward Bastian, a former Delta controller, as CFO after Michael Palumbo vacated that position. Additionally, Delta hired Glen Hauenstein from


to serve as chief of network and revenue management.

Delta said the changes were designed to help it improve its financial and operating performance in the face of spiking fuel costs and other challenges.

The airline's shares finished Monday's session up 2 cents at $2.23. Its intraday low of $2.12 last Wednesday marked the stock's lowest level in decades.

Bankruptcy speculation has hit a fever pitch after the carrier last month reported a second-quarter loss of $382 million, or $2.64 a share. Rising fuel costs overwhelmed Delta's progress at cutting non-fuel expenses, while revenue came under pressure from low-cost competitors.

Shares of the carrier also sold off after the

Associated Press

on July 27 published a memo from Delta CEO Gerald Grinstein to employees acknowledging the airline needed to do more to remain viable.