Delta CEO: "We still haven't seen the worst of it"

Discussion in 'Delta Air Lines' started by jimntx, Apr 5, 2020.

  1. jimntx

    jimntx Veteran

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    Brace yourselves: it's about to get ugly.

    Headlines:
    1.1st quarter to be reported next Wednesday.
    2. 2nd quarter revenue expected to be down 90%!
    3. April schedule to be cut to 80% less than planned
    4. 115,000 flights cut from schedule
    5. March 28, 2020: 38000 passengers vs. normal late March traffic of 600,000 passengers.

    utm_term=1586090576407214681df5ef3&utm_source=BTB+Sunday+April+5&https://www.cnn.com/2020/04/03/business/airlines-revenue-outlook/index.html?
     
  2. swamt

    swamt Veteran

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    Folks that can retire need to retire.
    Hopefully people are stashing cash away.
    Let's not forget, we are a bit more blessed as we are able to get a better heads up as we are protected (I hope) thru Sep. A lot of folks out there were put out of a job in an instant with no notice whatsoever. The sad side of things? Well, usually when someone has lost their income and/or job they would turn to selling things to help them get by. The sad part is no one is spending any money as they are holding out and saving for the long run.
    Buckle up folks. I think your right Jim, it's about to get ugly. Praying for all...
     
  3. Kev3188

    Kev3188 Veteran

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    In internal comma, Bastain has been pretty clear that May is gonna be even uglier than April, and that they still can’t see the bottom yet.

    Now offering leaves of up to 12 mos. An Early Out is supposedly in the works, but they’re trying to see the near-medium term looks like first.
     
  4. eolesen

    eolesen Veteran

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    I hear what you're saying on those who can retire should, but consider this: thought they had enough in their 401K to retire back in January are probably looking at waiting at least another year to see if the valuations recover.
     
  5. swamt

    swamt Veteran

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    Yes E and I agree. Some will wait for a bit of a bounce back before leaving.
    We have some taking temp leave, but turned in retirement paperwork to retire at end of temp leave. Others are thinking of doing the same, or just retiring.
    We have guys working just to have something to do and keep busy. Plenty of money, just don't want to whither away in retirement with no hobbies.
    I am sure we will be hearing of some more coming. Even our CEO has now mentioned that they are looking at offering an early out package but no decision as of yet.
    With Trans State Airlines and now Compass closing their doors, we have not seen the worst of this yet. there will be more and I am sure we very well will see some more airlines getting together in hopes of staying afloat when this is all over and past.
    Good luck to all of us...
     
  6. swamt

    swamt Veteran

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    Kev.,
    Some impressive numbers at Delta.
    37,000 employees taking some kind of leave to help the co. out of 90K is impressive. That's 41% helping out and volunteering.
    We are somewhere between 33% and 40% also. We were right at 33% last report and look forward to our numbers coming tomorrow.
    Delta's loss for the 1st Q was also not as large as expected so stock is currently being positive for that. Just in hopes the other airlines as well as ours reports lesser losses than expected as well. I know, it will get worse come May and 2nd Q, but at least first COVID-19 Q report is less than expected. Just a way to look at it in a positive way during this dramatic change in our industry.

    https://www.yahoo.com/finance/news/delta-q1-2020-earnings-110034240.html
     
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  7. Kev3188

    Kev3188 Veteran

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    I’ll take any positive I can get! Good luck to us all.
     
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  8. eolesen

    eolesen Veteran

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    That 37K clearly includes all the management folks who were voluntold that they were going to a four day paid workweek (and still expected to be available the fifth day).... Yeah, the pressure to take 80% wasn't at all subtle.
     
  9. Kev3188

    Kev3188 Veteran

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    At the station(s) level, mgmt. has the same options we do. For example, my immediate manager is taking an entire month off, while her counterpart is doing 1 week/month.

    The C-Suite is now planning for a 2-3 year recovery period...
     
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  10. NewHampshire Black Bears

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    Kev. It's a DAMM SHAME that you and you fellow workers are TOLD by DEL - DUH, that you ARE GOING to pick DL plan A, or B.
    A, Work hours reduced from 40, to 30
    or
    B, TAKE a L O A, 30 to 360 days !!!

    NO ONE in HOT-LANTA knows what a F RIF is !!

    With your seniority, should you be at UA or AA, you'd by sleeping in the break room, followed by days of mandatory OT.
     
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  11. Kev3188

    Kev3188 Veteran

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    There’s a lot of DL people that are in for a rude awakening come 10/1.
     
  12. NewHampshire Black Bears

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    Kev. Myself and your fellow Deltoid, MY SON, speak of you often, and hope the best for you. He (my son) has 8/87 seniority and works 10:30-7:00 pm, M-F, as the lone freight runner on that shift. Before cronid-19 he was busy as holy helll, running between terminal A to E (in BOS) bring back (only), all the INTL A/F from DL and at peak season, many international carriers (contracts). HE took one of the LOA's about 2-3 weeks ago ! Be safe Kev. !
     
  13. robbedagain

    robbedagain Veteran

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    Kev. Best of luck bro. Has DL given u folks a number of affected employees in station? For ex in DCA 73% employees for AA has been hit by Covid but they cant give us numbers. Kind scary. We had at least 1 feloow who spent several days in the hospital but is now home n recovering
     
  14. Kev3188

    Kev3188 Veteran

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    Thank you both for the kind words! No specifics from the company as far as affected employees goes.
     
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  15. NewHampshire Black Bears

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    HOLY CHIT'.
    DL Only flying less than 10 flights a day out of B O S T O N, and 1/3 of the are RJ's !!
     

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