Dl Makes $137m

[~~~^~~~]

From today's conference call, today's adjustment should be the last:

Thanks for joining us on the call today. This morning we announced Delta’s financial results for the June, 2008 quarter. Excluding special items Delta recorded net income for the second quarter of $137 million in spite of record high fuel prices that drove more then $1 billion in additional fuel input costs year-over-year. This compared to net income of $274 million in the June quarter of 2007.
On a GAAP basis we recorded a $1 billion loss driven mainly by a $1.1 billion non-cash impairment charge and you’ll recall last quarter we had the first part of that charge and this is the final true-up and a $96 million severance charge and I’d note on the $96 million severance charge, that was part of our process that we initiated earlier in the year to reduce overall staffing at the airline and that process has gone well and will result in significant payback within the year.

Generating positive earnings for the quarter given the unprecedented rise in the price of jet fuel is something that not many of our competitors will be able to report and it is a testament to the hard work of all the people at Delta Air Lines. They are delivering on our internal financial goals and they’re running a great airline. For the last 12 months Delta ranks number two among our competitive set for on time performance. In addition the latest view of key statistics ranked Delta in the top five for baggage performance in May and we had a 32% decline in the number of mishandled bags year-over-year in the June quarter.

This improvement reflects our ongoing investment in technology and process reengineering so we appreciate and want to thank all the Delta employees for their great work. They received $10 million in shared reward payments during the quarter for achievement of operational performance goals. So really great work by our people and we all want to thank them.

 

[9rj9]

So why don't you guys and gals demand you pension and pay cuts back. Just glad to have a job hun?

 

[~~~^~~~]

They are, hence the number of Delta pilots who say they will vote no.

I like the idea of having my own investments sitting in a 401K & roth than putting my faith in an airline maintaining a defined benefit plan.

At the end of the contract I think Delta will be the highest paid in the industry again. Not that is saying a lot with the devalued dollar, but is effectively deflects statements like:

So why don't you guys and gals demand you pension and pay cuts back. Just glad to have a job hun?

 

[9rj9]

I guess you forgot about Fedex, Ups and Southwest.

Its pathetic how pilots have caved into management and will accept anything. The company robbed the pilot group during banruptcy and they never even asked for a dime back. Weak sisters. ALPA is doomed, but you already knew that, its every pilot for himself.

 

[9rj9]

It will never deflect the fact that they sold out. NEVER

 

[General Lee]

It will never deflect the fact that they sold out. NEVER

Have you graduated to day flying yet? Thanks to age 65, it will take you longer, and you will look old, but you will be RICH. Great.


Bye Bye--General Lee

 

[PCL_128]

It will never deflect the fact that they sold out. NEVER

So which shining beacon of airline trade unionism do you work for?

 

[General Lee]

So which shining beacon of airline trade unionism do you work for?

UPS. He flies mostly at night, and is starting to look 30 years older than he already does, and he knows it. But hey, he has the money for botox.


Bye Bye--General Lee

 

[PCL_128]

UPS. He flies mostly at night, and is starting to look 30 years older than he already does, and he knows it. But hey, he has the money for botox.


Bye Bye--General Lee

In that case, maybe he can explain why the payrates he negotiated with a company that makes over $1 billion in profit per quarter are still far below the payrates that DAL and UAL negotiated almost a decade ago? Still want to throw those stones, brownie?

 

[9rj9]

so you didn't defend not asking for anyhting back, just bashing me personally. I never said general lee sold out, i said you and all your weak sisters sold out. Thats what i was asking, why direct your rage toward me and not the guy who stole your money.

anyway, I do day trips out of Miami. see ya.