Originally Posted by
EdGrimley
For those of you who haven't watched it, I highly encourage you to login to Deltanet then come back and click on the link below. It's Ed Bastian speaking at the ATL crew lounge March 24 for the 2015 base visit.
The whole presentation is interesting but especially where Ed speaks to debt reduction (paid down $15 Billion in five years and will be down to $5 Billion this year and DEBT FREE two years following). Key in starting at :55 mark in the video where he Ed talks about our performance vs other airlines and then talks about the debt reduction at the 4 minute mark.
Regarding the fuel refinery watch Ed's Q & A and key in starting at the 4 minute mark. Contrary to what Sailing has said multiple times, the refinery has turned out being a great investment and has more than paid for the initial investment, and will continue earning/saving money going forward.
Regarding C2012, the notion the company was contemplating keeping 50 seaters and performing engine overhauls is utter nonsense. Those planes were going away one way or the other and have saved Billions by allowing them to upgage including more 76 seaters. A different story than was broadcast leading up to the vote. Sometimes you just have to use your noggin and apply a little logic vs the talking points you are being fed. Let's do that for C2015, instead of being lead down a primrose path of "getting the membership to vote yes".
Please ignore those here who are preaching the sky will soon be falling. To the contrary, profits will continue to go up with even higher payouts. Don't touch profit sharing! If you believe what Ed says in the video about the performance of this pilot group vs our peers, there should be little argument whether this pilot group deserves an
industry leading contract in pay rates (not including profit sharing) and work rules.
Link didn't take. Go to the bottom right corner on the Flight Ops page and click on "Missed a Flight Ops Base Visit".
I watched the presentation also. I also read every word of Ed's testimony in the 1113 hearings so I am not a fan. Management has faced critism in financial circles over the refinery and is working hard to justify it. Listen again however to his statement on paying off the refinery. He talks only of initial investment. He does not talk about the cost to upgrade the refinery or the losses it sustained over several years. They are a ways from paying off those items. With the recent plunge in oil they may get there but it has not happened yet. The initial investment was only 150 million.