Delta post 88 million loss for October

[GOTAFLY]

What's going on, I thought they would do better.

 

[Zipperhead]

Waiting for General Lee to put his positive spin on it as usual with his compnay. B6 loses half a million in a quarter and Delta loses over 80 million in a month and he'll somehow put it in a positive light and bash Jetblue again.....


Hold your breath, it's comin....

 

[General Lee]

No, it wasn't the best month, but it was a large improvement from last years' OCT $265 million loss. That aint spin, but reality. It was a tough month, but not as bad as before.


Bye Bye--General Lee

 

[GOTAFLY]

Excluding one time reorganization items it was only a loss of 64 million in one month. Not bad General Lee.

Bye Bye Gotafly

 

[vetteracer]

How will this effect the sit-down with the creditors???

 

[fishalaska]

Thanks Delta Guys/Gals:

I flew with you on two roundtrips this month and EVERY flight was on time or early. It really made the trips easy. Additionally, the crew (pilots and FA) were all cordial and trying hard. This type of service will result in a profitable carrier. Keep it up and I hope you get all of your concessions back when the tables turn and you are pulling in big cash each month.

Fish

 

[jonjuan]

Much of the loss was Whitehurst's country club tab for entertainment of all of his Coca Cola buddies who are HUGE creditors for DAL.

 

[General Lee]

How will this effect the sit-down with the creditors???

Most airline people know the Fall is not as profitable, and OCT is always slower. It was a tough month no doubt. The creditors probably know the monthly cycle, and are probably looking at the big picture---with the lack of synergies with USAIR.

Bye Bye--General Lee

 

[SEVEN]

Still positioning for a merger with NWA. "A New Airline for the New Millinium."
YPF?

 

[YourPilotFriend]

Still positioning for a merger with NWA. "A New Airline for the New Millinium."
YPF?

Us airways is a hostile take over; NWA/DL is a winner, DAL/US is a loser. The french government wants to buy these airlines at any price.

 

[General Lee]

Us airways is a hostile take over; NWA/DL is a winner, DAL/US is a loser. The french government wants to buy these airlines at any price.

Very little overlap in a NW/DL merger. That is why it could pass. But, Jim Oberstar, a Congressman from MN, doesn't seem to like any airline mergers, and he is now Chairman of the Transportation Sub Committee.

Bye Bye--General Lee

 

[ultrarunner]

No, it wasn't the best month, but it was a large improvement from last years' OCT $265 million loss. That aint spin, but reality. It was a tough month, but not as bad as before.


Bye Bye--General Lee

To compare earnings to a year ago is essentially meaningless. What IS meaningful is projected earnings! I could give a $hit how much anyone made or lost 12 months ago, 24 months, etc...

Get folks in there than can do meaningful projections. Anyone can rattle off history...even the General could do that!

 

[crjdxr]

Delta Air Lines Reports Monthly Results for October 2006

ATLANTA, November 30, 2006 – Delta Air Lines (Other OTC: DALRQ) today filed its Monthly Operating Report for October 2006 with the U.S. Bankruptcy Court for the Southern District of New York. Key points include:

• Delta’s October 2006 net loss was $88 million, a $213 million improvement over October 2005.
• October 2006 net loss before reorganization items was $64 million.
• October 2006 operating loss was $9 million, a $187 million improvement over October 2005.
• As of October 31, 2006, Delta had $3.8 billion of cash, cash equivalents and short-term investments, of which $2.7 billion was unrestricted.

Delta reported a net loss of $88 million in the month of October 2006, compared to a net loss of $301 million in October 2005. Delta’s net loss before reorganization items was $64 million for October 2006, a $196 million improvement versus the prior year period. Delta’s operating loss of $9 million, a $187 million improvement over October 2005, includes the $43 million negative impact of fuel hedges for the month. As of October 31, 2006, Delta had $3.8 billion of cash, cash equivalents and short-term investments, of which $2.7 billion was unrestricted.
Restructuring Progress
In September 2005, Delta announced a comprehensive restructuring plan intended to deliver an additional $3 billion in annual financial benefits through revenue improvements and cost reductions by the end of 2007. During the month of October, Delta demonstrated its continuing progress in restructuring its business, as follows:

• Delta made significant improvements in its unit revenue performance by restructuring its overall network and rebalancing the mix of domestic and international flying. Delta’s length of haul adjusted consolidated passenger unit revenue (PRASM) increased 15.1% for October 2006 versus October 2005, as compared to the industry average PRASM increase of 6.2% over the same period.
• Delta reduced its operating expenses by 6.9% on a capacity reduction of 4.5%, resulting in a 2.5% reduction in consolidated unit costs in October 2006 compared to October 2005. Mainline non-fuel CASM was 7.12 cents for the month, a 4.1% improvement year over year.

"Delta is making strong progress on every front – solid revenue increases, meaningful cost reductions, and continually improving customer service and products,” said Edward H. Bastian, Delta’s executive vice president and chief financial officer. “The momentum that has been created by these achievements reinforces our confidence that we will emerge from bankruptcy as a strong, independent, stand-alone competitor in today’s global industry.”

 

[jonjuan]

"Delta is making strong progress on every front – solid revenue increases, meaningful cost reductions, and continually improving customer service and products,” said Edward H. Bastian, Delta’s executive vice president and chief financial officer. “The momentum that has been created by these achievements reinforces our confidence that we will emerge from bankruptcy as a strong, independent, stand-alone competitor in today’s global industry.”

LOL........

 

[ultrarunner]

Tell me the the PR person didn't puke all over themself when they wrote that!

 

[General Lee]

LOL........

Wow, you sure told him......you are a tough guy.

Bye Bye--General Lee

 

[General Lee]

Tell me the the PR person didn't puke all over themself when they wrote that!

So, did he lie about anything? Have we not made tremedous progress? I guess cutting a monthly loss from $215 million to $88 million isn't good? We actually made a profit this past summer, so I guess that was good, right?

Bye Bye--General Lee

 

[ultrarunner]

Didn't say anything about the accuracy of it's content. I just get sick when I read spin. If I actually had to write it, I'd prly puke.

But I would agree...it would appear to be progress. Although IMO it's skewed since Delta is operating under BK protection, since those laws make is much more simply to control costs then if they were not.

 

[FDJ2]

Didn't say anything about the accuracy of it's content. I just get sick when I read spin. If I actually had to write it, I'd prly puke.

Just curious, but what part did you see as "spin"?

 

[ultrarunner]

Just curious, but what part did you see as "spin"?

“The momentum that has been created by these achievements reinforces our confidence that we will emerge from bankruptcy as a strong, independent, stand-alone competitor in today’s global industry.”