I'd like to know the breakdown of that $1 billion going back to the employees.
They spent $30mil on a lobby
A hostile takeover is a gift?
Anyway, it's obvious Delta is more concerned about their international flying than domestic. Doesn't give me much confidence in their having much need to expand on Comair.
"Analysts convinced that a sale is likely say the timing is right. With Comair's contentious labor negotiations completed and the rest of restructuring done - annual expenses have been slashed by $90 million - the regional airline is in its best financial shape in years. Delta and Comair executives acknowledged throughout bankruptcy that a sale was a possibility but restructuring was necessary to garner a worthy price."
"They're probably going to sell them," said Calyon Securities analyst Ray Neidl in New York"
"Ownership allows them the ability to control the trip experience," he said. "Most people if they have a bad experience on Comair and the Delta logo is on the plane - they're going to blame Delta."
So either Delta keeps Comair, and monitor's them closely to ensure quality control; or cuts them lose so they don't have to worry about Delta logo's on Comair airplanes tarnishing their image.
"Analysts have said Comair could wind up a subsidiary of another regional partner of Delta's, such as SkyWest, be spun-off in an initial public offering or be acquired by a private equity group."
Good thing or bad? Could a Skywest ownership improve Comair's status, "growth and profit by association"?
"About the same time its pilots union ratified concessions this spring, Comair learned it wouldn't lose any more jets from a rebidding of regional flying during the bankruptcy. That meant Comair's fleet wouldn't shrink below 130 jets after it lost 44 aircraft in restructuring."
Isn't this just saying they couldn't lose any more jets
during the bankruptcy which is now over? Even if they don't lose the jets, I don't see how that is any guarantee that they couldn't be parked and not flown.