DL reports a $52 million net income for SEP quarter

[General Lee]

Press ReleaseSource: Delta Air Lines, Inc.

Delta Air Lines Reports Results for September 2006 Quarter
Thursday November 9, 4:30 pm ET
ATLANTA, Nov. 9, 2006 (PRIMEZONE) -- Delta Air Lines (Other OTCALRQ) today reported results for the quarter ended September 30, 2006. Key points include: -- Delta's third quarter net income was $52 million. Excluding reorganization items, the net loss was $46 million. (a, b) -- Delta made further progress in its restructuring by improving its unit revenue performance, addressing pension and retiree benefit costs, and streamlining its aircraft fleet. -- As of September 30, 2006, Delta had $3.9 billion in cash, cash equivalents and short-term investments, of which $2.8 billion was unrestricted.


Bye Bye--General Lee

 

[737 Pylt]

It may not be much, but after the past 5 years, I'll take it!
Any good news is welcome. It appears as though things are turning around...........FINALLY!

737

 

[9rj9]

looks like the pay but worked

They took it from the pilots and handed it to management, almost funny if it weren't criminal. Good luck getting any of that back. Leo has to be grinning ear to ear...

 

[jetjock6]

52 million...GREAT NEWS! This triggers a $60 million bonus for the executive officers.

Pilots, bad news. The company has an $8 million deficit for the quarter...we need concessions.

 

[Lake Alice]

Congrats DL folks but why did bankruptcy get extended?

 

[737 Pylt]

Congrats DL folks but why did bankruptcy get extended?

Mgmt. 101.....Extend the BK process this way it can appear that you need more from labor!

737

 

[Lake Alice]

Gotcha. Like you said though, atleast its a step in the right direction.

 

[FlyWolf]

Congrats guys, keep up the good work

 

[michael707767]

Congrats DL folks but why did bankruptcy get extended?

I've heard it has a lot to do with the PBGC and their claims.

 

[catIIIc]

Congrats DAL, we need everybody in the black to get back what we lost over the last 5 years.

 

[FDJ2]

Congrats DL folks but why did bankruptcy get extended?

I believe the company has been consistent in claiming that DAL will exit the first half of 2007. The major remaining part of the restructuring that is left to accomplish is management and the PBGC coming to agreement on the terms of the pension termination.

 

[Pat Fabin]

They will probably have to get 1 more, if not 2 more extensions of the excusivity period before their target exit date of March/April 07.

These extensions simply ensure that Delta management is the only party allowed to present an exit plan. Without it, creditors and other 3rd parties can propose exit plans... kindof unlikely but definitely a scary proposition!

 

[av8n]

Don't worry. The company will post a HUGE loss right before the exiting from Bankruptcy.

And let us not forget - Management is going to DEMAND more 'give backs' from the pilot group so that they can exit Bankruptcy.

Knowing our spineless pilot group - they will give the company whatever they want.

 

[General Lee]

Don't worry. The company will post a HUGE loss right before the exiting from Bankruptcy.

And let us not forget - Management is going to DEMAND more 'give backs' from the pilot group so that they can exit Bankruptcy.

Knowing our spineless pilot group - they will give the company whatever they want.

That is actually true. They have to do that to wipe off every last loss off the books, scrape everything off. Expect a huge loss, like United's $12 billion one quarter loss during the last quarter they were in BK. Now look at United, even the analysts like them. Expect one more huge loss to wipe everything clean. It is standard coming out of BK, and it is expected.


Bye Bye--General Lee

 

[Old School]

Is a 12 billion dollar quarterly loss just a write down or is money actually transferred from one party to another?

 

[Helos2Galaxy]

And let us not forget - Management is going to DEMAND more 'give backs' from the pilot group so that they can exit Bankruptcy.

To quote Ted Knight in Caddyshack, "...you'll get nothing and like it..."

 

[FlyBoeingJets]

Is a 12 billion dollar quarterly loss just a write down or is money actually transferred from one party to another?

Usually a paper loss for early cancellation of airplane/facility leases, contracts for services or airplane orders. The money comes back, on paper, when the BK court wipes away the obligation. Just like it did at UAL. It will be interesting to compare Delta's emergence from BK to how well UAL did it. Same goes for NWA.