Originally Posted by
slowplay
Take a look at the last few 10-K. Let me know what Delta's capex is vs our depreciation. I think you'll find that your hedge fund manager friend is wrong.
Delta may not be making investments where you want them to, but they are investing in the company. Our 2011 metrics are toward the top of the pax industry (RASM, Margin, costs), and that's a big turnaround from 2009/2010.
Nobody's saying they're not investing in the company. They clearly are in order to sustain the size of the business they wish to have. That has NOTHING to do with the fact that we are slowly liquidating. We are operating ~70 aircraft less than we did after the merger, we are laying off non-frontline employees, we are selling off real estate and business centers, and we are not replacing the hundreds of pilots that have retired with new hires. Management is slowly liquidating. Period. Bury your head in the sand all you wish for whatever purpose you choose to do it, but those are the facts.
Carl