Delta had announced their revision of the plan for 2008 several weeks ago and the internal hiring freeze began in the Summer. I believe the most recent AE reflects these changes going forward.
The "news" here is that the 4th quarter is going to be flat, or unprofitable. The pilot hiring will have to continue to staff the international expansion and the advanced entitlement awards have not staffed the fall of 2008 jets yet.
Oil is continuing to drop despite OPEC's verbiage and Chavez's attempt to subvert Venezuela's Constitution and install himself as Supreme Leader for life failed.
Yes, it is bad news, but I'm not running for the exits yet. Far from it.