Originally Posted by
slowplay
You're correct on the Amex cash. Only $1.5 billion has been delivered so far. $500 million remains to be paid.
Take a look at Delta's Investor Day presentation (it's on Delta.com under Investor Relations). You'll see that June corporate revenue was down 45% YOY. The trend line is encouraging, but that's because the YOY comparables are so bad (Oct-Dec 2008 was awful as well). We're still down about 10.5% full year comparing 2009 with 2007. Those are SEC disclosed facts, not urban legends. Oh, our peak annual revenue was $34 billion in 2008, falling to less than $28 billion this year. While some of that decline (about 30%) was mitigated by lower average fuel prices and lower operating costs due to reduced capacity, the net effect was $4 billion less in cash flow for debt service, fleet renewal, and payraises. Put any of those facts into the premerger standalone Delta/NWA business plans and tell me what they look like.
Slo,
Wall Street and analysts tend to look at a one month period as guidance .... the company reports quarterly results. When you just throw out a number with no qualifiers.... people may tend to believe that revenue was down for the quarter or year over year. I was not stating that the facts you were reporting where in error or urban legend. You have stated that revenue was down 45%.... (it was for June 09... not the quarter or year). I was using numbers but together and given during the investor report that talked about the 4 corner briefing. I thought I heard on the last investor conference call during earnings that the company was projecting about a 20% revenue drop in 2009 over 2008. Thanks for the additional numbers. I will re-research my information.