Boeing757/767 From United States of America, joined Jun 1999, 2264 posts, RR: 2 Reply 2, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 14647 times:
Delta Air files for Chapter 11 protection
Wednesday September 14, 4:47 pm ET
NEW YORK (Reuters) - Delta Air Lines Inc. (NYSE:DAL - News), which has struggled to avoid bankruptcy for several months, on Wednesday filed for Chapter 11 protection, brought down by high oil prices and steep competition from low-cost carriers.
The No. 3 U.S. airline, which earlier this year said it did not have enough cash to meet its liquidity needs in 2005, filed for Chapter 11 protection in the U.S. bankruptcy court in the Southern District of New York.
BR715-A1-30 From , joined Dec 1969, posts, RR: Reply 10, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 14334 times:
Not Necessarily, It IS possible to go into bankruptcy without dumping a pension plan. However, This WAS a last option as no CEO ever wants to see his company go into Ch. 11... However, I feel if Mullin was still CEO, this would have happened a long time ago.
Ken777 From United States of America, joined Mar 2004, 7460 posts, RR: 5 Reply 11, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 14260 times:
I'm sorry to see Delta file, but hope that they can work things out with minimal pain - especially for the employees.
The fact that NW is holding on to cash - up to $100+ million - is a pretty good indication that they are looking at it very closely. They will not have much time to decide with the pension payment due so we should know their decision within 24 hours.
AAgent From United States of America, joined Mar 2001, 560 posts, RR: 15 Reply 15, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 14187 times:
Since bankruptcy seems to be such a popular and successful option of late, perhaps NW, CO and AA can go to the courthouse together and get some kind of group discount. This whole drawn out bankruptcy process that creates artificial advantages for failed carriers is making me sick.
Airlinelover From United States of America, joined Jun 2001, 5580 posts, RR: 27 Reply 19, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 13970 times:
Quoting Matt D (Reply 9): Every one of these airlines should be out of business. Their business models have failed. The companies are no longer solvent.
I know it would suck for the employees. But everywhere else in the private sector, it's a way of life. And besides, new carriers will spring from the ashes.
Go work there.
And the first thoughts through your head are "what about my seniority or my pension"?
Then YOU ARE PART of the problem.
It's that antiquated, old school mentality that has dragged on at least two decades too long that got the airlines in the mess they are in today.
Matt, in all the time I've been here, I've seen you post some pretty radical and different things.. However, recently they've been more and mroe disturbing. This has to be the worst post of the year, if not the decade (so far).. People NEED the pensions, they WORKED For them, and they've built their savings and retirement planes around them too.. Now, if they're gone, what are they supposed to do?? This is a TRAGIC thing if it were to happen.
That's so low man.. I never expected that kind of comment from you..
And before you talk about old school or antiquated, get rid of your reel-to-reel collection and all that stuff..
[Edited 2005-09-14 23:18:29]
Lets do some sexy math. We add you, subtract your clothes, divide your legs and multiply
AAgent From United States of America, joined Mar 2001, 560 posts, RR: 15 Reply 20, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 13955 times:
Quoting NYCAAer (Reply 17): Most likely, AAgent- which makes it harder for other airlines not in Chapter 11 to compete. We at AA could be next- who knows?
Doesn't the whole thing just make you nauseous. There are going to be some rough skies ahead for all of the carriers operating outside of the protection of the bankruptcy club house. Best of luck to NW, CO and my fellow AA'ers.
N471WN From United States of America, joined Dec 2003, 1182 posts, RR: 1 Reply 21, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 13954 times:
And Delta made the mistake of all old line companies---they scoffed at their competition and demeaned ValuJet......instead of changing their business model, they exemplified the definition of insanity which is: "keep doing things the same way and expect different results." No longer can they be arrogant as their passengers continue to vote with their feet in Atlanta by getting off the train at Terminal C and making a right turn.....This is a great American story--how little ValuJet and now Air Tran brought down the mighty Delta fortress in Atlanta........do not respond in this thread with the other factors as I know them---but one factor was a little airline that figured it all out while Delta missed the opportunity to do so.....we call that TAKING CARE OF BUSINESS!!!
PITA333 From United States of America, joined Mar 2005, 391 posts, RR: 3 Reply 22, posted (7 years 8 months 1 week 6 days 14 hours ago) and read 13930 times:
I just got word of this on the local TV news station, KDKA. I can't put what I want to say in any other way so I'll just say it; "This just sucks!". I hope that DL can prevail on top in the end. Good luck and godspeed DL and all DL employees. I know that most of a.net stands behind you.