Internal Memorandum
Date: February 26, 2008
To: Delta Colleagues Worldwide
From: Richard Anderson and Ed Bastian
Subject: Richard and Ed Memo: Update on Consolidation
The media continues to have daily coverage speculating on the airline industry, including speculation involving Delta. As you know, for several months our Board and leadership have been reviewing strategic alternatives, including potential consolidation, to ensure that Delta maintains its leadership position in the industry.
Our review has been guided, from the beginning, by certain principles that have to be met if there were to be consolidation with another airline. Our principles are:
• that the airline be called Delta, headquartered in Atlanta
• that the seniority of our people is protected
• that the pension plans of our employees and retirees are maintained
• that the network is strengthened and our plans for international expansion are accelerated
• and, most importantly, that there is even greater job security along with more career opportunities for our people
To date, we have not arrived at a potential transaction that meets all of our principles. Rest assured that we will not complete a transaction unless all of these conditions are met. We have a strong stand-alone plan. We will maintain our attention on executing that plan while we continue to look at strategic alternatives.
We appreciate the professionalism and dedication you show every day in running the airline. It is the “Delta Difference†that sets us apart.
Thank you.
