I just hope we don't see a repeat of 2008, when:
Delta confident of 2008 profit
By David Field
Atlanta-based carrier plans to continue its ambitious international expansion following delivery of its first 777-200LR
Delta Air Lines executives are confident the carrier's ambitious international growth plan and emphasis on improved employee morale and customer service will make it profitable in 2008.
"Our plan is to make money this year. [Even with] fuel at $90 to $100 we're still on plan," says Delta president Ed Bastian. "We made over $600 million in 2007, and while oil wasn't at $100, it wasn't far from that."
and the reality
Delta's 2008 net loss was $503 million, or $1.08 per diluted
share, excluding (1) special items that primarily consist of an over
$900 million non-cash charge related to employee equity awards that
were issued or vested in connection with the merger and $7.3 billion in
non-cash goodwill and other intangible asset impairment charges
reported earlier this year, and (2) a $91 million loss on out-of-period
fuel hedges. Delta's reported 2008 net loss was $8.9 billion, or $19.08
per diluted share.
We need to make money in this industry. Everyone's doing a good job, nobody needs headwinds right now.