Delta Investor Day 2019
 

Delta Hosts Investor Day on Dec. 12, 2019

This will answer the details about 2019 and set the plan for 2020.


https://ir.delta.com/news/news-detai...9/default.aspx

Alarm clock set for 8am EST.

https://event.on24.com/eventRegistra...epage=register

Here are the slides from the presentation, from the investor site. https://s2.q4cdn.com/181345880/files...esentation.pdf

These are the slides you didn’t see. Here’s some good information on the profit sharing and JV revenue calculations.

My concern is the reduced transparency going forward. They are trying to drive stock price by eliminating the frequent data points that short term investors rely on to trade momentum. This also makes it easier to slow play the effects of a downturn and rolls back the transparency that was critical in building trust after the bankruptcy. Maneuvering in the shadows has always been the hallmark of failures, including in Delta’s own history.

https://www.sec.gov/Archives/edgar/d...lta_ex9903.htm

It's a great move IMO. Eliminates alot of the short term trading noise. The stock dropped 3% couple days ago because the November 2019 traffic numbers were down from last year. Short term thinkers didn't notice that our highest Revenue day of the year (Sunday after Thanksgiving) came in December instead of November. As a result, Delta is joining the majority airlines that don't report monthly traffic. As for the rest of the changes, they read like a value investors playbook focused on the long term/big picture. Most value investors wish companies only reported Biannually or Annually. Wonder if Berkshire Hathaway is driving some of these reporting changes at Delta.

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That was my thoughts as well, Buffett has mentioned this repeatedly.

Slide 15 on the phase out of NOLs and resulting tax obligations is a concern (good thing profit sharing is P-TIX)

Slide 18 on the realization of 75% of the JVs of AM and VS through the non-operating income line was also enlightening