Delta faces 'very high risk' of bankruptcy

Aero_Engineer

Aero_Engineer

Well-Known Member
Delta faces \'very high risk\' of bankruptcy

I found this article on yahoo news, it is interesting read it:
http://news.yahoo.com/s/afp/20050816/bs_afp/uscompanyairdelta_050816190132

NEW YORK (AFP) - Delta Air Lines faces "a very high risk of near-term bankruptcy," financial rating agency Standard and Poor's said as the third-largest US carrier scrambled in the face of a cash crunch.
S and P said it placed Delta's ratings -- already a low "CC" -- on "credit watch with negative implications" because of growing liquidity problems.

"The recent surge in fuel prices and Delta's disclosure that it will have to post 750 million dollars of cash collateral to extend its credit card processing agreement indicate that the airline's already slim chances of avoiding bankruptcy are dwindling rapidly," said S and P analyst Philip Baggaley


I don't know but I am getting depressed more and more every day just because of thinking of not making it in this industry.
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Re: Delta faces \'very high risk\' of bankruptcy

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NEW YORK (AFP) - Delta Air Lines faces "a very high risk of near-term bankruptcy," financial rating agency Standard and Poor's said as the third-largest US carrier scrambled in the face of a cash crunch.
S and P said it placed Delta's ratings -- already a low "CC" -- on "credit watch with negative implications" because of growing liquidity problems.

"The recent surge in fuel prices and Delta's disclosure that it will have to post 750 million dollars of cash collateral to extend its credit card processing agreement indicate that the airline's already slim chances of avoiding bankruptcy are dwindling rapidly," said S and P analyst Philip Baggaley


I don't know but I am getting depressed more and more every day just because of thinking of not making it in this industry.
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S&P said the same thing about NWA:

"We think the risk of bankruptcy is too high to continue to hold the stock," Standard & Poors analyst James Corridore wrote in a research note advising investors to sell.

He's not swayed by Northwest's $2.1 billion in cash.

"They've got what seems like a pretty high amount of cash," he said an interview, "but a lot of that is dedicated to funding operating losses, or pending debt maturities."

This is starting to seem like a flashback to the early 90s in the industry...
 
Re: Delta faces \'very high risk\' of bankruptcy

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I don't know but I am getting depressed more and more every day just because of thinking of not making it in this industry.

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No fret. Just keep training and work at your backup career, so you still fly, then if you're number is called that would be icing on the cake. If not, at least you won't be "Stuck like Chuck" and you'll still be flying.

Funny thing is that the whole Delta ordeal really isn't news!!!!!!!
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Re: Delta faces \'very high risk\' of bankruptcy

Arizona... still hot this summer. Whoodathunkit?
 
Re: Delta faces \'very high risk\' of bankruptcy

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I don't know but I am getting depressed more and more every day just because of thinking of not making it in this industry.
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If you're a worrier, you've chosen the wrong industry. Once you've landed a job with an airline you're almost like a passenger on a flight. You can't really control what's going to happen, but you can do your best to sit back and relax. Your job is never safe, even if your company is stable you always have your health and checkrides every 6-12 months. Keeping your glass half full will definitely help your outlook.

And as previously posted, it can never hurt to have a good backup career.
 
Re: Delta faces \'very high risk\' of bankruptcy

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This is starting to seem like a flashback to the early 90s in the industry...

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Airline industry cyclical? No.
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Re: Delta faces \'very high risk\' of bankruptcy

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I don't know but I am getting depressed more and more every day just because of thinking of not making it in this industry.
frown.gif


[/ QUOTE ]

If you're a worrier, you've chosen the wrong industry. Once you've landed a job with an airline you're almost like a passenger on a flight. You can't really control what's going to happen, but you can do your best to sit back and relax. Your job is never safe, even if your company is stable you always have your health and checkrides every 6-12 months. Keeping your glass half full will definitely help your outlook.

And as previously posted, it can never hurt to have a good backup career.

[/ QUOTE ]
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nicely said!
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Re: Delta faces \'very high risk\' of bankruptcy

Why do you think i am still here, I gave up going to med school, pissed of the whole family, changed my major, added at least one year to graduation date just to be able to do what all of us love and dearly adore. I don't give up that fast, it was just sad to hear something that serious about Delta's situation. At least Delta is one of the airlines I have always wanted to fly for.
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Re: Delta faces \'very high risk\' of bankruptcy

Don't let your family tell you to take a safe job.

As I tell people, if you were an accountant at a Big Six firm, working on the City of Chicago account, you'd have thought you were safe, right? They'd always need accountants, and the City of Chicago wasn't going to go away.

Unless you were working for Arthur Andersen and the actions of some morons on the Enron account, which you had NOTHING to do with caused your company to implode.

There ain't no such thing as a safe job. There's only varying degrees of danger.
 
Re: Delta faces \'very high risk\' of bankruptcy

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There's only varying degrees of danger.

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Key point!!!!!!!!!!!!!
 
Re: Delta faces \'very high risk\' of bankruptcy

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There's only varying degrees of danger.

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Grave danger?
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Re: Delta faces \'very high risk\' of bankruptcy

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Is there another kind?

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Just the response I was fishing for!
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Re: Delta faces \'very high risk\' of bankruptcy

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Is there anykind?

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You mean

"Is there any other kind"

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Re: Delta faces \'very high risk\' of bankruptcy

says you! I - take the time - time out of my day to keep myself from the boredom! JC provides just enough to get thru the day! hahaha

honestly, i'm pretty darn busy right now.. i just spread the work out on a daily basis in order to keep me busy! If i got it all done today, i wouldn't have anything to do tomorrow!
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Re: Delta faces \'very high risk\' of bankruptcy

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says you! I - take the time - time out of my day to keep myself from the boredom! JC provides just enough to get thru the day! hahaha

honestly, i'm pretty darn busy right now.. i just spread the work out on a daily basis in order to keep me busy! If i got it all done today, i wouldn't have anything to do tomorrow!
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That was a joke
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I am REAL busy today myself...had an Engineer load a laptop and put the company MASTER password on it, change it and then forget the password (its a generated complex thing). Now we don't have access to the server, I'm a contractor and dont have a backdoor password anymore, not sure if anyone does. This is being REAL fun!
 
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