deltadude
Posts: 116
Joined: Wed Sep 08, 2004 11:53 pm

"interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 11:50 am

According to the Atlanta Journal and Constitution an "interim tentative" deal has been reached between management and the pilots at Delta. The deal calls for a 14% paycut that should go into effect Decemeber 28th.

http://www.ajc.com/news/content/business/delta/1205/12pilotpay.html

[Edited 2005-12-12 03:52:17]

[Edited 2005-12-12 03:53:19]
 
deltaamtrak058
Posts: 80
Joined: Thu Jan 20, 2005 10:01 am

RE: "interm Tentative Deal" Reached At Delta

Mon Dec 12, 2005 11:54 am

Thank goodness! I was holding a collective breath for so long. Glad to see that the chances of a strike have been abloshied or dramatically decreased. Where will the other savings come from though?
-F L Y D E L T A J E T S
Deltaamtrak058
The engine is the heart of an aeroplane, but the pilot is its soul. -Sir Walter Raleigh
 
deltadude
Posts: 116
Joined: Wed Sep 08, 2004 11:53 pm

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 12:02 pm

This deal makes me think that it's a sure bet that the pilots won't strike and Delta will see this bankruptcy through.
 
TL8490
Posts: 132
Joined: Wed Sep 28, 2005 8:50 pm

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 12:12 pm

This is the best news of the day...probably the month....Now they finally move toward exiting bankruptcy early in 2006....Look for the next big news to be setting a date to leave bankruptcy and then a merger announcement.
 
deltaamtrak058
Posts: 80
Joined: Thu Jan 20, 2005 10:01 am

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 12:13 pm

Quoting Deltadude (Reply 2):
This deal makes me think that it's a sure bet that the pilots won't strike and Delta will see this bankruptcy through.

I sure hope so....Aren't they also on a pay freeze? If so....how long?

Merger between who and who??

[Edited 2005-12-12 04:15:21]
The engine is the heart of an aeroplane, but the pilot is its soul. -Sir Walter Raleigh
 
deltadude
Posts: 116
Joined: Wed Sep 08, 2004 11:53 pm

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 12:31 pm

why should DL merge with anyone? if they get their costs in line a merger would be useless.
 
hiflyer
Posts: 1270
Joined: Wed Nov 24, 2004 1:38 am

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 12:36 pm

Quoting TL8490 (Reply 3):

THey really haven't even begun the chapt 11 process. Agreements with creditors and lessors are a long way off before even discussion of exit financing and dates will arise. There are a slew of creditors..both secured and unsecured...and they all are going to get their say in court. Do not look for an exit before next fall IMHO.
 
TL8490
Posts: 132
Joined: Wed Sep 28, 2005 8:50 pm

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 12:39 pm

Grinstein and the gang have already acknowledged that there will be consolidation in the industry...That pretty much telegraphs their plans....A good executive will want to be the leader in any merger....That is what Grinstein and Whitehurst have been up to since the beginning....Its all about the speed you repair your balance sheet and be in the driver's seat ....These guys are all about making sure Delta is not the "victim" in any merger...
 
deltadude
Posts: 116
Joined: Wed Sep 08, 2004 11:53 pm

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 12:51 pm

Quoting TL8490 (Reply 7):
Grinstein and the gang have already acknowledged that there will be consolidation in the industry

cosolidation is happening....US Air / America West.....DL hub closing/reduction....Fly i going away.
 
TL8490
Posts: 132
Joined: Wed Sep 28, 2005 8:50 pm

RE: "interim Tentative" Deal Reached At Delta

Mon Dec 12, 2005 1:02 pm

Honestly...I do agree with you that there is consolidation taking place....I think you will find later that this is just the tip of the iceberg with respect to mergers in the industry....
 
ERAUMcDlover
Posts: 73
Joined: Sun Aug 14, 2005 10:16 am

RE: "interim Tentative" Deal Reached At Delta

Tue Dec 13, 2005 2:37 am

I don't see DL going anywhere. I don't really envision DL in a merger either. Enough of the majors realize that they don't have the cash, or the prospective company they think they'd merge with don't have the cash either and will wait a few years. US/HP haven't been together long enough to see if that will work. HP posted minimal profits, and the doomed US steps in, albeit with financing, i'm still not convinced. UA has been bankrupt for 3 yrs and are still posted HUMONGOUS losses. That can't continue, eventually I think they will go like PANAM. I admit, i'm not a UA fan, but you cannot continue to bleed money like that, period. DL has just entered bk and has several options. They are just now inplementing cost reductions etc. I don't want it to take this long, but lets give DL 3 years and see what management comes up with. I think with all the atlantic routes, and the fleet utilization, and the streamlining of the fleet, DL has the probability, not possibility, to emerge has successful as they were pre-9/11 when they were posting monumental profits. good luck to all employees, and of course the "southern gal" DL. Oh yea, and management........if its not too much to ask......alll i want for christmas.......is the widget back.
DL, what a classy lady....Mad Dogs...a classy plane.....USA...just the best all around
 
ord
Posts: 1354
Joined: Tue Jul 20, 1999 10:34 pm

RE: "interim Tentative" Deal Reached At Delta

Tue Dec 13, 2005 2:44 am

Quoting ERAUMcDlover (Reply 10):
Enough of the majors realize that they don't have the cash, or the prospective company they think they'd merge with don't have the cash either

The airlines themselves don't need cash in a merger. If the creditors think two airlines would be a good fit they'll provide the financing for a merger.

Quoting ERAUMcDlover (Reply 10):
UA has been bankrupt for 3 yrs and are still posted HUMONGOUS losses.

Nearly all of United's huge losses are bankruptcy-related expenses. If United was not in bankruptcy the losses would not be anywhere as large. I believe they have even posted some operational profits.
 
TL8490
Posts: 132
Joined: Wed Sep 28, 2005 8:50 pm

RE: "interim Tentative" Deal Reached At Delta

Tue Dec 13, 2005 2:48 am

Lets face it...most of the merger financing is probably going to be provided by either Boeing or Airbus.... My guess is if Delta appears to be the stronger merger candidate then Airbus will offer to put up the money to gain a new customer....or if it is NW then Boeing will roll out the red carpet to try and gain the long haul business.....