Originally Posted by
newKnow
Unless you:
1. Have a seat on the BOD
2. Are CEO of DAL or NWA
3. Are a major shareholder of DAL or NWA
4. Are a major creditor of DAL or NWA
5. Are The President of the United States
6. Are The Attorney General or,
7. Someone who has the ear of any of the above
You have no choice in whether or not the merger goes through and no one is listening.
We'll see. Remember, the only reason that NWAALPA even had input into this potential transaction was because of the work of the Delta MEC.
BTW, DALPA has a seat on the DAL board. While it currently doesn't vote, it has full access except for the compensation committee.
DAL employees own 14% of the company.
Hedge funds make up less than 15% of ownership
Over 50% of institutional ownership has a long term view (JPMorgan, Fidelity, Lord Abbett, etc)
ALPA was the second largest unsecured creditor in the DAL bankruptcy.
DALPA has a track record over the last 2 years with the management and creditors. We do have their ear (remember LCC?).
While this DAL/NWA deal may not be over, the cooperative phase in that potential transaction by the Delta MEC is probably over. The opportunity for up front returns has been squandered, disproportionately increasing the risk to Delta pilots versus the standalone plan. If the boards try to go through with the deal, they will do it with full knowledge of the increased risk DALPA has demonstrated it can bring to the economics of the deal. Should DALPA or NWALPA oppose the deal, the boards will have to decide if that risk is worth the effort to merge while going into a down cycle.
My bet is that unless external factors change, the DAL board will decide against it.