Cash Drops To Level Seen As Triggering Bankruptcy

[Hatu]

NEW YORK (CBS.MW) -- Delta Air Lines will lose between $625 million and $675 million in the third quarter, a much wider loss than expected, according to a regulatory filing with the Securities and Exchange Commission Friday.

Lower domestic passenger mile yields compared with last year, and higher fuel prices have left the Atlanta carrier with $1.45 billion cash on hand, substantially less than the $2 billion it reported on June 30.

http://www.marketwatch.com/news/yhoo/story...AFB77A188165%7D

 

[WorldTraveler]

Exactly the position the company needs to be in to validate that the concessions it needs are very large and need to be obtained very quickly.

 

[luv2fly]

Exactly the position the company needs to be in to validate that the concessions it needs are very large and need to be obtained very quickly.

[post="191177"][/post]​

Hey Traveler,

Just curious as to what department you work in for DL? HQ, Mtc, Flt Ops?

 

[WorldTraveler]

I'm a pilot. Isn't that obvious. Actually, a management pilot.

 

[WorldTraveler]

luv2fly,
I'm flattered that you're willing to offer me a position at Delta. I've always wanted to work for an airline.
After much consideration, I've narrowed my choices to a couple positions:
Chief Industry Prognosticator and Senior Competitive Irritant. Let me know when the interview will be so I can prep accordingly.
Sadly, I must withdraw from consideration for the Chief pilot position. I like the cockpit but this whole security thing is too much - I need to be where I can circulate with people.

Now with all seriousness (I think),
It really isn't hard to see where Delta is going with their restructuring. You'll remember that Delta hired some world famous bankruptcy consultants - Blackmail Associates or something like that. You can bet that BA didn't tell Delta to look calm, cool, and collected if they want to get help outside of bankruptcy. Oh no, the Blackmail boys said, "You have to say woe is me" at least once a week and it helps if you file it with the SEC. Of course, no one wants to get in trouble with the law so you probably really should run the bank accounts down and the losses up if you want to substantiate your claims of poverty. It just happens that Delta is very close to the point where they are now in poverty.
You do the math - we're asking for better than $1.5B annually from employees (most of which is from pilots) and from debtholders. In order to get to that level, however, Delta had to go through about $1B of cash. Since the concessions are multiyear, Delta's rate of return on that $1B will be very high.
Oh sure, Delta really does have very high costs and is losing money but if you're going to lose money, do it good enough that everyone will know how badly managed you are and then when you hit bottom, GET SMART and clean house. Yes, there are risks this plan will backfire but it won't for lack of a good show from Mecca (aka Atlanta).
When we look back on these years of turnaround in the industry, Delta will stand out as having pulled off the biggest turnaround in the industry and it will be shown that Delta achieved the lowest costs in the legacy industry and was able to be a major driver in the consolidation of the legacy segment of the airline industry. Not bad for a bunch of Southern bumpkins, eh?

 

[mistified]

luv2fly,
You do the math -
Oh sure, Delta really does have very high costs and is losing money but if you're going to lose money, do it good enough that everyone will know how badly managed you are and then when you hit bottom, GET SMART and clean house. Yes, there are risks this plan will backfire but it won't for lack of a good show from Mecca (aka Atlanta).
When we look back on these years of turnaround in the industry, Delta will stand out as having pulled off the biggest turnaround in the industry and it will be shown that Delta achieved the lowest costs in the legacy industry and was able to be a major driver in the consolidation of the legacy segment of the airline industry. Not bad for a bunch of Southern bumpkins, eh?

[post="191719"][/post]​

Blah-blah-balh.....
Oh yes and you almost forgot. It was Elvis and some little green men that shot JFK.

 

[WorldTraveler]

I guess the mistified title really does fit.

 

[mistified]

I guess the mistified title really does fit.

[post="191859"][/post]​

You bet. That's why I picked it.
What say you?

 

[NewHampshire Black Bears]

luv2fly,
I'm flattered that you're willing to offer me a position at Delta. I've always wanted to work for an airline.
After much consideration, I've narrowed my choices to a couple positions:
Chief Industry Prognosticator and Senior Competitive Irritant. Let me know when the interview will be so I can prep accordingly.
Sadly, I must withdraw from consideration for the Chief pilot position. I like the cockpit but this whole security thing is too much - I need to be where I can circulate with people.

Now with all seriousness (I think),
It really isn't hard to see where Delta is going with their restructuring. You'll remember that Delta hired some world famous bankruptcy consultants - Blackmail Associates or something like that. You can bet that BA didn't tell Delta to look calm, cool, and collected if they want to get help outside of bankruptcy. Oh no, the Blackmail boys said, "You have to say woe is me" at least once a week and it helps if you file it with the SEC. Of course, no one wants to get in trouble with the law so you probably really should run the bank accounts down and the losses up if you want to substantiate your claims of poverty. It just happens that Delta is very close to the point where they are now in poverty.
You do the math - we're asking for better than $1.5B annually from employees (most of which is from pilots) and from debtholders. In order to get to that level, however, Delta had to go through about $1B of cash. Since the concessions are multiyear, Delta's rate of return on that $1B will be very high.
Oh sure, Delta really does have very high costs and is losing money but if you're going to lose money, do it good enough that everyone will know how badly managed you are and then when you hit bottom, GET SMART and clean house. Yes, there are risks this plan will backfire but it won't for lack of a good show from Mecca (aka Atlanta).
When we look back on these years of turnaround in the industry, Delta will stand out as having pulled off the biggest turnaround in the industry and it will be shown that Delta achieved the lowest costs in the legacy industry and was able to be a major driver in the consolidation of the legacy segment of the airline industry. Not bad for a bunch of Southern bumpkins, eh?

[post="191719"][/post]​

****************************************************************
"WT",
I don't agree with you, on a frequent basis(nothing personal), BUT IMHO you've hit the proverbial nail, square on the head, as far as what DL /Hotlanta is up to !!!!

NH/BB's

 

[luv2fly]

luv2fly,
I'm flattered that you're willing to offer me a position at Delta. I've always wanted to work for an airline.
After much consideration, I've narrowed my choices to a couple positions:
Chief Industry Prognosticator and Senior Competitive Irritant. Let me know when the interview will be so I can prep accordingly.
Sadly, I must withdraw from consideration for the Chief pilot position. I like the cockpit but this whole security thing is too much - I need to be where I can circulate with people.

Now with all seriousness (I think),
It really isn't hard to see where Delta is going with their restructuring. You'll remember that Delta hired some world famous bankruptcy consultants - Blackmail Associates or something like that. You can bet that BA didn't tell Delta to look calm, cool, and collected if they want to get help outside of bankruptcy. Oh no, the Blackmail boys said, "You have to say woe is me" at least once a week and it helps if you file it with the SEC. Of course, no one wants to get in trouble with the law so you probably really should run the bank accounts down and the losses up if you want to substantiate your claims of poverty. It just happens that Delta is very close to the point where they are now in poverty.
You do the math - we're asking for better than $1.5B annually from employees (most of which is from pilots) and from debtholders. In order to get to that level, however, Delta had to go through about $1B of cash. Since the concessions are multiyear, Delta's rate of return on that $1B will be very high.
Oh sure, Delta really does have very high costs and is losing money but if you're going to lose money, do it good enough that everyone will know how badly managed you are and then when you hit bottom, GET SMART and clean house. Yes, there are risks this plan will backfire but it won't for lack of a good show from Mecca (aka Atlanta).
When we look back on these years of turnaround in the industry, Delta will stand out as having pulled off the biggest turnaround in the industry and it will be shown that Delta achieved the lowest costs in the legacy industry and was able to be a major driver in the consolidation of the legacy segment of the airline industry. Not bad for a bunch of Southern bumpkins, eh?

[post="191719"][/post]​

I asked you a simple direct question. I guess it was too much to expect a simple direct answer.

 

[Speedbird]

When we look back on these years of turnaround in the industry, Delta will stand out as having pulled off the biggest turnaround in the industry and it will be shown that Delta achieved the lowest costs in the legacy industry and was able to be a major driver in the consolidation of the legacy segment of the airline industry. Not bad for a bunch of Southern bumpkins, eh?

Either that or the good old boys at "Mecca" have made a fatal miscalculation and have put this proud airline into a potential unrecoverable flat economic spin. For your sake I hope you're right, but I don't think anyone is as good as you suggest here.

 

[NAPAUS]

luv2fly,
I'm flattered that you're willing to offer me a position at Delta. I've always wanted to work for an airline.
After much consideration, I've narrowed my choices to a couple positions:
Chief Industry Prognosticator and Senior Competitive Irritant. Let me know when the interview will be so I can prep accordingly.
Sadly, I must withdraw from consideration for the Chief pilot position. I like the cockpit but this whole security thing is too much - I need to be where I can circulate with people.

Now with all seriousness (I think),
It really isn't hard to see where Delta is going with their restructuring. You'll remember that Delta hired some world famous bankruptcy consultants - Blackmail Associates or something like that. You can bet that BA didn't tell Delta to look calm, cool, and collected if they want to get help outside of bankruptcy. Oh no, the Blackmail boys said, "You have to say woe is me" at least once a week and it helps if you file it with the SEC. Of course, no one wants to get in trouble with the law so you probably really should run the bank accounts down and the losses up if you want to substantiate your claims of poverty. It just happens that Delta is very close to the point where they are now in poverty.
You do the math - we're asking for better than $1.5B annually from employees (most of which is from pilots) and from debtholders. In order to get to that level, however, Delta had to go through about $1B of cash. Since the concessions are multiyear, Delta's rate of return on that $1B will be very high.
Oh sure, Delta really does have very high costs and is losing money but if you're going to lose money, do it good enough that everyone will know how badly managed you are and then when you hit bottom, GET SMART and clean house. Yes, there are risks this plan will backfire but it won't for lack of a good show from Mecca (aka Atlanta).
When we look back on these years of turnaround in the industry, Delta will stand out as having pulled off the biggest turnaround in the industry and it will be shown that Delta achieved the lowest costs in the legacy industry and was able to be a major driver in the consolidation of the legacy segment of the airline industry. Not bad for a bunch of Southern bumpkins, eh?

[post="191719"][/post]​

LOLOLOL U are so full of yourself. Your postings are hilarious. Man, we need some intenseive psychotherapy and medication. Oh yes, Mother Delda ( Widget airlines) will be the leader...GET REAL. Sems like you have all the time in the world to bash UA and US and u just keep drinkin the Delda cool aid.. Your making southerners look like real BUMKINS. Get off ur horse and come down to reality...BLAH BLAH BLAH

 

[Fly]

Have a pretty good source who thinks that the pilots will take their cuts this week. Will it avoid BK? Don't know about that.