Delta May File For Bankruptcy On Thursday

[MOUNT KISCO]

4:17am 09/12/05
Delta may file for bankruptcy on Thursday: WSJ (DAL) By Steve Goldstein
LONDON (MarketWatch) -- Delta Air Lines (DAL) may file for bankruptcy as early as Thursday, The Wall Street Journal reported Monday, citing sources familiar with the situation. Delta is nearing a deal for $1.7 billion in debtor-in-possession financing which will come from creditors led by General Electric Co. (GE) , the report said. Delta will use $1 billion to pay off a GE loan. Delta will have to sell assets including aircraft, spare parts, its Comair regional feeder unit and AirElite private-jet operation, gates at New York City's LaGuardia Airport and routes to Tokyo and London, the report said. A Delta spokesman didn't comment on the report.

 

[PlayTheOdds]

It will not be long and Northwest and Delta will officially be the same company.

 

[777 fixer]

4:17am 09/12/05 
Delta may file for bankruptcy on Thursday: WSJ (DAL) By Steve Goldstein
LONDON (MarketWatch) -- Delta Air Lines (DAL) may file for bankruptcy as early as Thursday, The Wall Street Journal reported Monday, citing sources familiar with the situation. Delta is nearing a deal for $1.7 billion in debtor-in-possession financing which will come from creditors led by General Electric Co. (GE) , the report said. Delta will use $1 billion to pay off a GE loan. Delta will have to sell assets including aircraft, spare parts, its Comair regional feeder unit and AirElite private-jet operation, gates at New York City's LaGuardia Airport and routes to Tokyo and London, the report said. A Delta spokesman didn't comment on the report.

[post="299332"][/post]​

My sympathies go out to those who work for Delta. As we have seen with UAL and US Air the rank and file are going to get hammered. If I worked for Delta and managed to hang onto my job I would be worreid at the prospect of routes being sold off. As history has shown selling routes usually does not help any, i.e. Pan Am and TWA.

 

[PlayTheOdds]

What are the chances of Northwest making those purchases?

 

[eolesen]

What are the chances of Northwest making those purchases?

[post="299377"][/post]​

Who cares? Go speculate on this in the Delta or Northwest forums.

 

[MOUNT KISCO]

Who cares? Go speculate on this in the Delta or Northwest forums.

[post="299409"][/post]​

Why different forums, we're all in the same toilet.

 

[FWAAA]

Why different forums, we're all in the same toilet.

[post="299425"][/post]​

Because your thread is off-topic for the AA forum, that's why. And adding the ridiculous "Will AA seek concessions?" to a news story about DL doesn't convert your wind-up post into anything on-topic, that's why.

AA isn't in any toilet. $3 billion plus in cash and current on its pension contributions. In case you haven't noticed, AA is cash flow positive, unlike DL. AA is nowhere near asking for more concessions nor filing for Ch 11.

 

[Wretched Wrench]

What are the chances of Northwest making those purchases?

[post="299377"][/post]​

Don't start here, troll.

.

 

[Bob Owens]

Because your thread is off-topic for the AA forum, that's why.  And adding the ridiculous "Will AA seek concessions?" to a news story about DL doesn't convert your wind-up post into anything on-topic, that's why.

AA isn't in any toilet.  $3 billion plus in cash and current on its pension contributions.  In case you haven't noticed, AA is cash flow positive, unlike DL.  AA is nowhere near asking for more concessions nor filing for Ch 11.

[post="299433"][/post]​

Thats what AA said all through 2002, by March of 2003 they claimed they were filing for BK unless they got the biggest concessions the industry ever saw.

 

[AMFAMAN]

4:17am 09/12/05 
Delta may file for bankruptcy on Thursday: WSJ (DAL) By Steve Goldstein
LONDON (MarketWatch) -- Delta Air Lines (DAL) may file for bankruptcy as early as Thursday,

[post="299332"][/post]​

To think, all this time they kept saying it was a union problem...

Considering there is only one union on the property, it couldn't be that big of a problem, or is it?

 

[Wretched Wrench]

Bankruptcy, or the threat thereof, is becoming a business strategy. There is a herd of consultants offering to advise businesses on how to benefit from bankruptcy. Do an Amazon search for books on the subject. It is taught in business schools.

There is presently an impetus to do it before Oct 17 to preserve executive retention bonuses, as there a few restrictions after that date. A few other aspects of BK are also tightened up a little, too.

NW will follow soon. This was planned quite a while back, and is right on schedule.

 

[FWAAA]

Thats what AA said all through 2002, by March of 2003 they claimed they were filing for BK unless they got the biggest concessions the industry ever saw.

[post="299498"][/post]​

Exactly! I agree with your post. No need to ask for more concessions at this point, since AA might have done it right the first time around in early 2003.

 

[Bob Owens]

Exactly!  I agree with your post.  No need to ask for more concessions at this point, since AA might have done it right the first time around in early 2003.

[post="299518"][/post]​

In other words you claim there is no need for employees to look beyond their nose. Investors like it better that way.

 

[jimntx]

4:17am 09/12/05
Delta will have to sell assets including aircraft, spare parts, its Comair regional feeder unit and AirElite private-jet operation, gates at New York City's LaGuardia Airport and routes to Tokyo and London, the report said. A Delta spokesman didn't comment on the report.

No that is not what the article said. It said that DL would have to "hock" those assets. All that may mean is that they would have to put up those assets as collateral for DIP loans.

The landing slots and gates at LGA alone are worth a lot, as are the London routes. IMHO, the Tokyo route is not all that valuable right now. There are six airlines flying the NY-NRT route right now either from EWR or JFK.

DL's desire to sell its regional operations is old news. ASA is gone and Comair is probably not far behind.

 

[TWU informer]

Who cares?  Go speculate on this in the Delta or Northwest forums.

[post="299409"][/post]​

I believe this issue could "as the topic suggest" have far reaching effects and could become a whirlwind of concession talk at AA.

You are no longer the ModerAAtor as the "FORMER" in your alias clearly states.

So why dont you leave that to the real moderator, and you cease with the wannabe actions?