Delta Air Lines ( DAL ) shares fell Thursday after the struggling carrier reported a larger-than-expected loss in the fourth quarter amid a sweeping turnaround plan. The Atlanta-based carrier had a net loss of $2.2 billion, or $16.58 a share, including non-cash charges totaling $1.4 billion, vs. a loss of $327 million, or $2.69 a share a year ago. Excluding items, Delta lost $780 million, or $5.88 a share, compared with a loss of $207 million, or $1.71 a share in the year-ago period. Analysts expected the nation's third largest airline to lose $644.7 million a share, or $5.51 a share, on revenue of $3.68 billion, according to Thomson First Call. "High fuel prices and domestic yields that continue to decline resulted in another quarter of disappointing results," the company said in a statement. "These numbers show clearly the difficulties our airline will continue to face in 2005. At the same time, Delta made important progress toward our transformation goals, including moving forward with our cost-reduction efforts and completing key financial transactions -- accomplishments that would not have been possible without the participation and commitment of the entire Delta team." Losses aside, the carrier was able to institute a wide-ranging restructuring plan, including an agreement with pilots on contractual changes designed to deliver $1 billion in long-term, annual cost savings. Delta also restructured financing agreements. The carrier ended the quarter and year with $1.8 billion in unrestricted cash. Shares fell 25 cents, or 4.1, to $5.90 in premarket trading. Both Northwest Airlines ( NWAC )and AMR ( AMR ), the parent of American Airlines, Wednesday reported large losses for the quarter.