Originally Posted by
Myfingershurt
It would cover total expenses for 2-3 months. They were trying to act like it was for them to use on whatever they want. However the grants are specifically earmarked to cover payroll through sept. Delta is hoping their employees are ignorant and don’t watch the news.
Supposedly, 2 days ago our revenue was 3M dollars for the day, compared to a typical day of 130M. That is only a paltry 127M $$$$ shortfall for 1 day.
Let's not talk revenue, let's talk expenses. I'll even narrow it down to pilot expenses. Avg pilot salary 20K a month 14500 pilots equals about 1B for the quarter. No problem....plenty of money to pay the pilots. Other employees? Other obligations? Eff that!
People have asked "why don't we renegotiate leases"? Previously(2005), prior to going into bankruptcy, we had our most onerous MD88 leases at about 240,000$$$ a month. Tried to renegotiate...lessor said tough tata's, no dice. After we declared bankruptcy, Delta told the creditors to come pick 'em up. They wound up getting new leases on those MD88's at 30,000$$$ a month. Not sure renegotiating would result in any different outcome this time around.
I'm a short timer. Good luck to all you guys that have a long career ahead. It may well prove to be a gut wrentching time with tough decisions to be made by mgt, by the union and by the pilots.