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Delta Bankruptcy Here it Comes

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701EV

Well-known member
Joined
Oct 10, 2002
Posts
760
NEW YORK (Reuters) - Delta Air Lines (NYSE:DAL - News) has begun arranging the financing it would need should it seek bankruptcy protection, The New York Times reported on Saturday.

Citing "people with direct knowledge of Delta's actions," the Times reported that Wall Street analysts, industry executives and finance experts said the troubled airline could seek the protection within weeks.

The Atlanta-based airline is holding the discussions with lenders including GE Commercial Finance, which provided restructuring money in 2004, the Times said, citing both airline employees and members of the financial community. It said GE Commercial declined to comment.

The No. 3 domestic airline is also exploring selling or refinancing its commuter lines, Comair and Atlantic Southeast Airlines, and is seeking more savings from employees, according to the report.

The Times also said that Delta officials had acknowledged that it needed to be financially prepared for a filing, which legal experts expected would occur in New York, although a final decision was not imminent.

Delta, like the rest of the industry, has been battered by skyrocketing oil prices.

On Aug. 29 the airline's credit card processing agreement, which covers critical MasterCard and Visa transactions, will expire. Delta said on Tuesday it was trying to lower the amount of money it needs to pay up front to secure a new credit card processor. People close to the talks say Delta is being asked to set aside $300 million to $800 million, but the airline did not comment on the figures, the Times said.

Here it comes!

701EV
 
Meanwhile Smith Barney downgraded Delta's stock from "hold" to "cash out, and put it all on red"
 
You sound too excited about this.

First, if Delta declares bankruptcy, they are going to say bye-bye to the ASA and Comair. And seeing how your monicker matches that of a CRJ at ASA, you will find yourself either on the street or stapled to the bottom of somebody else's seniority list.

Second, the more majors that fall means the worse off everyone will be.

I love how these commuter airline pilots get so giddy at the thought of a major airline going down the tubes. Congratulations, just when the bar could not go any lower, here you are digging out more ground so you can lower it even more.

But don't worry, there are going to be lots of airline pilot jobs available.!! Unfortunately, it will be all RJ's, starting pay will be $6.00/hr and 20 year captain pay will be $12.00/hr.

But what the heck, you will be flying a jet, so the pay really doesen't matter.

Let the whole industry go down the tubes, I really don't care anymore.
 
VABB said:
You sound too excited about this.

First, if Delta declares bankruptcy, they are going to say bye-bye to the ASA and Comair. And seeing how your monicker matches that of a CRJ at ASA, you will find yourself either on the street or stapled to the bottom of somebody else's seniority list.

Second, the more majors that fall means the worse off everyone will be.

I love how these commuter airline pilots get so giddy at the thought of a major airline going down the tubes. Congratulations, just when the bar could not go any lower, here you are digging out more ground so you can lower it even more.

But don't worry, there are going to be lots of airline pilot jobs available.!! Unfortunately, it will be all RJ's, starting pay will be $6.00/hr and 20 year captain pay will be $12.00/hr.

But what the heck, you will be flying a jet, so the pay really doesen't matter.

Let the whole industry go down the tubes, I really don't care anymore.






Relax Francis!
 
VABB said:
You sound too excited about this.

First, if Delta declares bankruptcy, they are going to say bye-bye to the ASA and Comair. And seeing how your monicker matches that of a CRJ at ASA, you will find yourself either on the street or stapled to the bottom of somebody else's seniority list.

Second, the more majors that fall means the worse off everyone will be.

I love how these commuter airline pilots get so giddy at the thought of a major airline going down the tubes. Congratulations, just when the bar could not go any lower, here you are digging out more ground so you can lower it even more.

But don't worry, there are going to be lots of airline pilot jobs available.!! Unfortunately, it will be all RJ's, starting pay will be $6.00/hr and 20 year captain pay will be $12.00/hr.

But what the heck, you will be flying a jet, so the pay really doesen't matter.

Let the whole industry go down the tubes, I really don't care anymore.

You lower the bar every time you open your mouth...
 
Oakum_Boy said:
You lower the bar every time you open your mouth...

But at least everytime I open my mouth, I'm not excited and giddy about a major airline going out of business. You guys need to realize and learn who buttering your bread. Delta goes, you go. And probably straight to Mesa.
 
VABB said:
But at least everytime I open my mouth, I'm not excited and giddy about a major airline going out of business. You guys need to realize and learn who buttering your bread. Delta goes, you go. And probably straight to Mesa.

No one is happy about it. Least of all the regional pilots. If ASA goes bankrupt, I get no contract and maybe a pay cut. Who is giddy about it?
 
Delta's looking at a double mastectomy, I couldn't imagine any delta connection pilots being excited about this.
 
VABB said:
But at least everytime I open my mouth, I'm not excited and giddy about a major airline going out of business. You guys need to realize and learn who buttering your bread. Delta goes, you go. And probably straight to Mesa.




Did you ever hear of sarcasm? I sincerely doubt 701 is excited about bankruptcy. I know I am not, and the thought of it does bother me because it is unknown what will happen to ANY OF US! I CERTAINLY DO NOT WANT TO SEE DELTA OR ANY OTHER AIRLINE GO BY THE WAYSIDE. We have all worked very hard to get where we are. So relax a bit.
 
viper548 said:
Delta's looking at a double mastectomy, I couldn't imagine any delta connection pilots being excited about this.





I don't think any pilot should be excited about this , you know what they say sh!t rolls down hill!
 

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