Originally Posted by
crazyjaydawg
Ed and company essentially rolled up a bunch of Benjamin’s and smoked them.
Legally Delta still has a 20% ownership in LATAM, but because it’s in BK court, they have no say in what’s happening or going to happen.
Even worse, when the BK dust settles, Delta’s equity in the “restructured” LATAM will likely be between 0 and an “IOU”.
Ironic that Delta got absolutely cleaned out this year by all of these bankruptcies...it’s almost a romantic justice if it weren’t so close to home.
They took a risk and it did not work out. I am fine with that, it happens all the time. I just hate the disingenuous part that they keep peddling that these losses are not that bad. And the fact they will all get bonuses this year, but made a big deal about employee appreciation not always being about money. They obviously care about getting extra money if they had to change the rules for their bonuses.