Delta has great DEC quarter, $2.7 Billion yearly profit, article...

[General Lee]

PR Newswire Delta Air Lines 34 minutes ago
ATLANTA, Jan. 21, 2014 /PRNewswire/ -- Delta Air Lines (DAL) today reported financial results for the December 2013 quarter. Key points include:

Delta's net income for the December 2013 quarter was $558 million, or $0.65 per diluted share, excluding special items1.
Delta's net income for 2013 was $2.7 billion, excluding special items, a $1.1 billion increase over 2012.

Delta's GAAP net income was $8.5 billion, or $9.89 per diluted share, for the December 2013 quarter and $10.5 billion for 2013. These results include an $8.0 billion non-cash gain associated with the reversal of the company's tax valuation allowance.

2013 results include $506 million in profit sharing expense, including $119 million in the December quarter, recognizing Delta employees' contributions toward meeting the company's financial goals.

Delta generated nearly $5 billion of operating cash flow and $2.1 billion of free cash flow in 2013, allowing the company to reduce its adjusted net debt at the end of 2013 to $9.4 billion, contribute an incremental $250 million above required funding to its defined benefit pension plans, and return $350 million to shareholders through a combination of $100 million of dividends and $250 million of share repurchases.


"Our December quarter profit caps off a successful year for Delta with strong profitability and margin expansion, industry-leading operations and significant improvements in customer satisfaction. Across the board this was an outstanding year and all credit for these achievements goes to the 78,000 Delta employees worldwide," said Richard Anderson, Delta's chief executive officer. "We have a solid set of initiatives in place to improve our financial results, operational performance and customer satisfaction levels beyond 2013's record levels and remain focused on being the best airline for our employees, customers and shareholders."

Revenue Environment

Delta's operating revenue improved 6 percent, or $474 million, in the December 2013 quarter compared to the December 2012 quarter. Traffic increased 2.0 percent on a 2.9 percent increase in capacity.

Passenger revenue increased 6.1 percent, or $451 million, compared to the prior year period. Passenger unit revenue (PRASM) increased 3.0 percent year over year with a 4.0 percent improvement in yield.

Cargo revenue decreased 1.0 percent, or $3 million, as higher freight volumes partially offset declining freight yields.

Other revenue increased 2.8 percent, or $26 million, driven by higher SkyMiles revenue.




Not bad at all......




Bye Bye----General Lee

 

[BILL LUMBERG]

And yet another refinery loss.....and a huge income tax bump which is due to expire.

Quit putting these guys on a pedestal GL....

 

[jonjuan]

Not bad at all......

Bye Bye----General Lee

Is what management said when you decided to voluntarily reduce your profit sharing to match what non-union FAs receive. Just wait for the millions in options being exercised over the next few weeks. Now THAT will be not bad.

 

[dbrownie]

Now is a great time to pat ourselves on the back for reducing our profit sharing!

Well done Delta pilots!

Maybe by the end of our 2015 contract we will make the rates we did in 2000?

Db

 

[BILL LUMBERG]

Yeah but Brownie....when asked on the contract survey, what would you rather have, Higher pay rates? or Higher Profit sharing? I chose higher pay rates because I determine my own destiny (Darth Vader voice) with more greenies or white slips not letting Ed and the boys dictate the latter with their pen.

Sad we had a seesaw to play with but I think the higher pay rate was a better move.

 

[dbrownie]

Yeah but Brownie....when asked on the contract survey, what would you rather have, Higher pay rates? or Higher Profit sharing? I chose higher pay rates because I determine my own destiny (Darth Vader voice) with more greenies or white slips not letting Ed and the boys dictate the latter with their pen.

Sad we had a seesaw to play with but I think the higher pay rate was a better move.

True Bill;

But we should have never reduced profit sharing for the "higher" rates which were low.

Too bad they never share the results of the surveys........

Db

 

[jonjuan]

Yeah but Brownie....when asked on the contract survey, what would you rather have, Higher pay rates? or Higher Profit sharing? I chose higher pay rates because I determine my own destiny (Darth Vader voice) with more greenies or white slips not letting Ed and the boys dictate the latter with their pen.

Sad we had a seesaw to play with but I think the higher pay rate was a better move.

You do realize that the last 2 years of pay raises of your contract were paid for by giving back ps, don't you? What will you be giving up when management/dalpa give you a 1% pay raise per year for 5 years? A week of vacation? 30 hours of sick leave?" Just" 50 more jumbo RJs? Lol.....

 

[BILL LUMBERG]

Gee Thanks Jon....

I appreciate your insight into a contract you know nothing about or have to work under.

 

[BILL LUMBERG]

True Bill;

But we should have never reduced profit sharing for the "higher" rates which were low.

Too bad they never share the results of the surveys........

Db

And why should they release the results? So the company can say "Aha, 51 percent think pay is important? Next time let's just get a payraise just enough to make them vote yes and forget about the other stuff!"

It would be stupid to publicly release a survey showing what's most important to the pilot group so the company can use a scalpel on it to their advantage.

 

[jonjuan]

W x

And why should they release the results? So the company can say "Aha, 51 percent think pay is important? Next time let's just get a payraise just enough to make them vote yes and forget about the other stuff!"

It would be stupid to publicly release a survey showing what's most important to the pilot group so the company can use a scalpel on it to their advantage.

Mmmmm-kayyyyyy.....so, then how exactly do alpa negotiators negotiate? Management obviously knows that in the survey, the majority of pilots voted to trade ps for pay, hence the offer.
Do you really think management gives a flip what pilots "want" in a survey. Quit thinking like a peasant.

 

[bladeusa]

Congrats on a good year. Thats a lot of dinero..
-and thanks for all the rides commuting.

 

[dbrownie]

And why should they release the results? So the company can say "Aha, 51 percent think pay is important? Next time let's just get a payraise just enough to make them vote yes and forget about the other stuff!"

It would be stupid to publicly release a survey showing what's most important to the pilot group so the company can use a scalpel on it to their advantage.

Bill;
Respectfully I disagree if the company saw "Wow these guys want X" how would that hurt?

Of course I mean results after the contract is signed not during negotiations.

Keeping the results secret is to protect DALPA more than us in my opinion.

Db

 

[jonjuan]

Bill;
Respectfully I disagree if the company saw "Wow these guys want X" how would that hurt?

Of course I mean results after the contract is signed not during negotiations.

Keeping the results secret is to protect DALPA more than us in my opinion.

Db

Bingo. Too bad bill has been brainwashed with the strange metaphor of: "in poker, we can't show our hand, even after the hand ends as they'll quickly realize if we were bluffing or not." Cue the black helicopters.
Frankly, not showing survey results keeps the spotlight from being put on the incompetent. What if 90% asked for pay restoration and all dalpa could muster was 25% of that? Better not release the survey results or our oil paintings will be sold at auction.

 

[DTW320]

12.84% raise last year on the amendable date of the last contract(4% 6 months early then 8.5% on the old amendable date)....not 2+ years after the amendable date....(remember that my fellow fNWA's??) PS decrease of 1/3 on the first 2.5B...Gain of 1/3 on the amount above 2.5Bil.

Do I wish total comp was even more? You bet.

Did I make 3 to 4 times more$$$ from the raises than I lost due to the change in PS? You bet.

Last years PS check = 6% of W2
This years PS check = 8+% of W2 + 15% additional of the PS amount into the 401k(DC/DPSP) AND the W2 is 8.5% higher than 2012's(assuming same category, same hours)
Total PS payout next month(PS + DC Plan) = @ 9.5% of W2

Simple math boys. But when has that ever stopped a good rant?

 

[General Lee]

Is what management said when you decided to voluntarily reduce your profit sharing to match what non-union FAs receive. Just wait for the millions in options being exercised over the next few weeks. Now THAT will be not bad.

There was a reduction in percentage on anything less than $2.5 billion, but an increase in percentage up to 20% for anything OVER $2.5 billion, and the profit was $2.7 billion. The trade was guaranteeing a larger pay rate, or keeping a certain percentage of profits that may or may not be there. Luckily, the DL pilots get both. The rumor is the profit sharing will be 8.3% of last years "pay advance and flight pay", compared to 6% last year that included the old formula without the cut. That means nice extra check on the 14th next month. And, the great thing is it includes a DC contribution on top of the amount at 15%.



Bye Bye---General Lee

 

[Flyby1206]

DL is killing it, congrats to those who made it happen.

 

[DieselDragRacer]

And yet another refinery loss.....and a huge income tax bump which is due to expire.

Quit putting these guys on a pedestal GL....

Last I checked, oil companies don't sell profitable refineries.

 

[DieselDragRacer]

Since DAL is making money hand over fist, how about some 'early' retirement packages for those dinosaur FAs?

 

[jonjuan]

Since DAL is making money hand over fist, how about some 'early' retirement packages for those dinosaur FAs?

Don't think general lees wife is ready to quit just yet.

 

[dbrownie]

12.84% raise last year on the amendable date of the last contract(4% 6 months early then 8.5% on the old amendable date)....not 2+ years after the amendable date....(remember that my fellow fNWA's??) PS decrease of 1/3 on the first 2.5B...Gain of 1/3 on the amount above 2.5Bil.

Do I wish total comp was even more? You bet.

Did I make 3 to 4 times more$$$ from the raises than I lost due to the change in PS? You bet.

Last years PS check = 6% of W2
This years PS check = 8+% of W2 + 15% additional of the PS amount into the 401k(DC/DPSP) AND the W2 is 8.5% higher than 2012's(assuming same category, same hours)
Total PS payout next month(PS + DC Plan) = @ 9.5% of W2

Simple math boys. But when has that ever stopped a good rant?

DTW320;
First off these were not raises, but restoration towards what we used to make.

We are no longer in bankruptcy why are we acting like it?
Why should we give up anything?
Db