Honest question, not trying to pick a fight with those that hate the buybacks, just trying to understand their position better.

Would you feel differently about it if the money had been paid out as regular or special dividends instead of used for share buybacks?

The only acceptable use of cash is buying 787s for Delta pilots to fly!!!! Am I right?

Would gladly trade that to buybacks, it would make our stock sought after by even more groups. Increasing the dividend would up the value of our stock and may even raise our stock price. This is partly why I don’t understand the buyback, when it has no obvious business case, I feel like something unwholesome is happening. The flimsy excuse of we feel our stock is undervalued is dismissive at best. I don’t disagree with spending the money, buybacks are very inefficient use of it and we’ve done it to the tune of +$5billion.

I think I’d rather see them gamble with investments in more diverse companies. Imagine what $5billion over five years could have bought us in tech startups that may even fill some tech gaps.

The main positive of buybacks is that they have little ability to say they don’t have the money when we ask for a raise.

With a $5B investment, we could post a credit card salesperson at every gate and maybe even have a few working the security lines!

Better yet, let’s get into the student loan business. On second thought, a couple hundred billion in debt is going to vanish soon if I believe all the commercials, so that might not be a better use of our profits.

Oops. I just made this political. Sorry, Mods.

WB loves buybacks because they increase his stake in a company without him having to spend any more bread. period.

^^^^^ this right here ^^^^^^^

It's the obvious step in the cycle. National consolidation has taken place and there is no farther to take it. Just got to get rid of a few pesky laws and Skyteam International here we come.

Obviously that has always been the goal of the partner networks. If there is any type of carbon trading system implemented between nations, it will make it happen in short order.

It's going to happen eventually. Globalization is unstoppable. The world is so interconnected these days and getting more, and more so. I don't think this is necessarily a bad thing though

So whose pay/benefits packages will stand when DAL 'merges' with AF/KLM/KAL...... You think you are going to continue to far outpace your (future) fellow pilots to the extent you do now? Or do you believe those pilots are on a par with you? They will get your health insurance, and you'll get their pay.

You better stand the **** by for a yuge awakening.

It ain't gonna be good.