Can I have my money back now?

derg

derg

Apparently a "terse" writer
Staff member
..
July report part of bankruptcy plan to reduce costs, boost passenger revenue

SAN FRANCISCO (MarketWatch) - Delta Air Lines swung to a $69 million profit in July, thanks to higher passenger revenue and lower operating costs, the bankrupt carrier said late Wednesday.
The Atlanta-based airline said net income rebounded from a year-ago loss of $41 million. Excluding restructuring costs, net income for July 2006 totaled $99 million.

Delta (DALRQ), which entered into Chapter 11 bankruptcy proceedings last September, said consolidated passenger unit revenue gained 13.2% in July to 11.44 cents.

Cost per available seat mile excluding fuel, a key gauge of expenses in the industry, fell 6.4% to 6.6 cents in July.

By month-end, Delta had $4 billion in cash, cash-equivalents and short-term investments on its books, or $3 billion in unrestricted cash.
Delta Chief Financial Officer Edward H. Bastian said the results reflect a "more than billion dollar improvement" in the airline's operating performance so far this year.

"In the coming months, the challenge will be to sustain this momentum as we move into a traditionally slower season for our industry," Bastian said.
Shares fell 0.71% to 70 cents in over-the-counter trading Wednesday.
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nope - you've already shown them that you can and will work for less pay...they're not going to give you guys a raise now!
 
TheShortOne said:
nope - you've already shown them that you can and will work for less pay...they're not going to give you guys a raise now!
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Unfortunately, I gotta agree with this. The pilots have shown they'll buckle under pressure from execs. Why would they ever pay them more now? It makes no sense from a buisness standpoint.

If I have a business and earn $10 with a worker I pay $3 I make $7.

If I have a business and earn $10 with a worker I pay $1 I make $9!!

What looks better to an exec whos main responsibility is to reduce costs and increase net revenue?

Keep in mind that the airlines are run by businessmen and women who are most likely fiscally conservative. The days of the high paid pilots are gone I am afraid.
 
Hey Doug... I know it hurts to take pay cuts, but as much as you've lost in the last 4 years, Delta shareholders lost a ton more. Perhaps the money should be re-invested into the business? If African and Vietnamese airlines can afford to order new planes, maybe it would be good if Delta could too. Besides 8 777's and some new 738's, Delta's fleet is going to be pretty rusty in the next few years.

Just playing devil's advocate.
 
Good lord, now i've got people preaching, oh do bestow your wisdom upon me!

Nice folks, real nice.
 
iwareboy said:
Hey Doug... I know it hurts to take pay cuts, but as much as you've lost in the last 4 years, Delta shareholders lost a ton more. Perhaps the money should be re-invested into the business? If African and Vietnamese airlines can afford to order new planes, maybe it would be good if Delta could too. Besides 8 777's and some new 738's, Delta's fleet is going to be pretty rusty in the next few years.

Just playing devil's advocate.
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What would you do if you took a 50% pay cut in one year? Be happy you can still do what you love? Love doesn't pay rent.
 
Nah, JT, it's ok bro. I made a relitively 'sardonic' post, but if people want to educate me about labor, compensation and egads shareholders in the airline business (I'm a stakeholder AND a shareholder), please by all means, don't step in the way of my edumacation.
 
Dunno! I'm trying to figure out what to cook for dinner, but whenver I call the boss it's "I dunno!" so I'm about to go forage for food at the local grocer.
 
Doug, I got nothing to say 'cept "Ain't that about a bitch."
So when's the next contract negotiation?
 
50% cut is harsh. But would you be in a stronger position to negotiate a wage as soon as a company (still in bankruptcy with stock price hovering around $1) OR.... in a few years after you can get some new planes, establish profitability and a decent stock price, and reduced debt?
 
I read the profit report just a few minutes ago and I figured it had been posted here. I like how they say yes we made money but with the seasonal drop will have a tough time next quarter. Typical corporatations tell you the but make sure to mention the bad in order to justify the cuts.
Doug the new Delta motto is "more with less"
 
I'm not sure how sardonic it will be when DALPA send out the press releases tomorrow. I'm sure it'll say the exact same thing.

In anycase, I should have known better than to question the webmaster... my bad.
 
iwareboy said:
50% cut is harsh. But would you be in a stronger position to negotiate a wage as soon as a company (still in bankruptcy with stock price hovering around $1) OR.... in a few years after you can get some new planes, establish profitability and a decent stock price, and reduced debt?
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Stock price affects pay? Wow, I never knew that. Well, if you're a CEO (hello, Bob Nardelli) it sure as hell doesn't. Why should it be different for the people who actually make the money for the company by providing the customers with services?
 
sorry dough, i still <3 you (and not in the math equation sort of way!) I didn't mean for my post to sound harsh like it did.
 
Sorry Doug, give it up. Not only does the general public not care about our sacrifices for this company, even other pilots don't give a •. I feel truly blessed by this brotherhood. :banghead:
 
Good job Delta!

Everyone is "educating" you about how you should have had the amazing foresight NOT to accept paycuts, but hey...at least your not at American Eagle as a first year FO because Delta went boobies up!

There is ALWAYS a brighter side:)
 
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