"If Delta does not take delivery of CRJ jets"

[jetflyer]

General Lee,

Let's hope those smart gentlemen in the boardroom at Delta can work some magic over these next couple years so we can all keep our jobs!

Indypilot,

Thanks for tackling and explaining the Dojet scenario.

Jet

 

[FDJ2]

There's some serious DENIAL on the state of affairs at Delta by Delta pilots.

Wouldn't you be in DENIAL if your company was in as bad of shape as Delta is? Heck 2-5 years from now people could be talking about Chapter 7 at Delta not just at US Airways!!

Let's all bury our heads in the sand and deny, deny, deny!!


2 years ago all of the Delta pilots were saying how great Delta was doing, even when it was losing MONEY hand over fist.

Delta pilots? Jetflyer here is what Delta management was saying in 2003

Tuesday, April 29, 2003



DELTA AIR LINES: CEO Mullin Bullish about Company's Viability
-------------------------------------------------------------
Delta Air Lines (NYSE: DAL) CEO Leo F. Mullin reported at the
company's annual shareowners meeting that, referencing the
current turmoil embracing the airline industry, he believes
"Delta can survive and can remain solvent throughout this
incredibly challenging period."

Mullin pointed to the company's strong balance sheet and success in reaching its 2002 liquidity and cash burn targets. He noted Delta's performance was consistently referred to as the best of the network carriers by independent
measures, including some Wall Street analysts



ATLANTA, April 17, 2003



“Even as we face the greatest financial crisis in Delta's history, which is deepened by the impact of military action in Iraq, Delta continues to successfully reduce costs, preserve liquidity, and implement the strategic elements of our long-term plan for survival," said Leo F. Mullin, chairman and chief executive officer. “This plan has allowed us to end the March quarter with $2.5 billion in cash and short-term liquidity. I remain confident that we are taking the right steps to stabilize and strengthen our company while meeting the needs of our customers."

"Delta outperformed analyst expectations in the December quarter through our disciplined approach to the entire operating environment," said M. Michele Burns, executive vice president and chief financial officer. "The steps we took to optimize our network and implement cost savings initiatives led to improved cost and revenue performance in each month of the quarter."

Jetflyer the tone at DAL didn't start to seriously change until Leo left at the end of last year and GG took over and immediately started beating the BK drum. The Delta pilots have offered over $700M/year in concessions, or roughly $2M/day and yet you claim it's the Delta pilots who are in denial. Had Delta management taken that $2M/day two months ago they would have an additional $120M in the bank today. Where's the urgency from GG towards the non contract employees. The recent cuts from the non contract employees will save $1B/year yet GG won't implement those cuts until 2005. Yet somehow you insinuate that the Delta pilots are in denial. You might want consider that the Delta pilots are being prudent and it's management that has been floundering around not being able to get it's message or business plan straight.

 

[dogg]

.... Can one of the MBA's show me in plain english how a regional jet airline that is paid to fly the same whether they are empty or full can claim to be profitable-as an airline-......It seems that the day is coming when fee- for -departure contractors are going to be a thing of the past....At which point the desert will be full of 50 seat RJ's.....

 

[FDJ2]

The biggest problem is the pension issue. DL can't afford to be stuck with giant pension tab if U and UAL are both dumping theirs. So, unless DALPA agrees to major pension cuts, DL management will likely want CH 11.

Medflyer, how much has DL contributed to the Delta pilot pension plan in the last 8 years? How much will Delta have to contribute in the 2005 to the pilot pensions? How about 2006? What is the funding level of the Delta pilot pension plan today? And please, don't confuse the pilot pension plan with that of the non contract employees since it is costing DAL significantly more to fund the non contract employees pension plan. I suspect you must have the answer to these questions since you seem so sure that the pilot pension is the biggest problem.