March 31st Townhall
04-01-2020 | 09:47 AM
#61
Line Holder
Joined: Apr 2014
Posts: 794
Likes: 2
From: Widget Jet
https://apple.news/AbLYQhxFjRIiR91yidnadlg
Wont go over well in the court of public opinion. Or DC. Ed basically has done the same thing to the public/government that he did to us in LOA 20-01. Reneged on his word. It’ll be interesting to see if this garners any negative feedback.
There are 3+ million newly minted unemployed workers whose industry didn’t get grants from Congress. They surely won’t understand Ed’s rhetoric...
What was that thing about stock buybacks again? How much were those stock grants worth extra as a result of those billions blown in stock buybacks? What’s that stock worth today? Can we park any of those buybacks or use them as equity collateral to help save the airline Ed?
The answer is NO.
Wont go over well in the court of public opinion. Or DC. Ed basically has done the same thing to the public/government that he did to us in LOA 20-01. Reneged on his word. It’ll be interesting to see if this garners any negative feedback.
There are 3+ million newly minted unemployed workers whose industry didn’t get grants from Congress. They surely won’t understand Ed’s rhetoric...
What was that thing about stock buybacks again? How much were those stock grants worth extra as a result of those billions blown in stock buybacks? What’s that stock worth today? Can we park any of those buybacks or use them as equity collateral to help save the airline Ed?
The answer is NO.
04-01-2020 | 10:23 AM
#62
Gets Weekends Off
Joined: Aug 2015
Posts: 557
Likes: 0
Ok maybe you guys can help fix my apparent misperceptions about this situation.
If this government payroll GRANT is to cover PAYROLL based on worker compensation from 1 April through 30 September 2019, why do we need to reduce our PAYROLL expenses now. The government is paying the salaries... why does delta care how much the government is paying their employees?
Speak slowly and use small words. I’m not that smart.
If this government payroll GRANT is to cover PAYROLL based on worker compensation from 1 April through 30 September 2019, why do we need to reduce our PAYROLL expenses now. The government is paying the salaries... why does delta care how much the government is paying their employees?
Speak slowly and use small words. I’m not that smart.
04-01-2020 | 10:25 AM
#63
Gets Weekends Off
Joined: Sep 2013
Posts: 6,566
Likes: 316
From: Sitting SC at the Five Towns
Ok maybe you guys can help fix my apparent misperceptions about this situation.
If this government payroll GRANT is to cover PAYROLL based on worker compensation from 1 April through 30 September 2019, why do we need to reduce our PAYROLL expenses now. The government is paying the salaries... why does delta care how much the government is paying their employees?
Speak slowly and use small words. I’m not that smart.
If this government payroll GRANT is to cover PAYROLL based on worker compensation from 1 April through 30 September 2019, why do we need to reduce our PAYROLL expenses now. The government is paying the salaries... why does delta care how much the government is paying their employees?
Speak slowly and use small words. I’m not that smart.
04-01-2020 | 10:59 AM
#65
Gets Weekends Off
Joined: Jul 2010
Posts: 12,833
Likes: 172
From: window seat
Call their bluffs and offer them dimes on the dollar. They will have to take it.
04-01-2020 | 11:13 AM
#66
Gets Weekends Off
Joined: Sep 2008
Posts: 6,971
Likes: 0
From: Kickin’ Back
Have they renegotiated leases and gates? There is a zero chance at any meaningful level if repossessions right now as long as you're offering even nominal pennies on the dollar. What leasing company can and will take hold of thousands of airliners not in use and eat the costs? Same for gates and landing fees etc.
Call their bluffs and offer them dimes on the dollar. They will have to take it.
Call their bluffs and offer them dimes on the dollar. They will have to take it.
Denny
04-01-2020 | 11:24 AM
#68
Banned
Joined: Feb 2008
Posts: 1,317
Likes: 0
From: The Beginnings
There was no discussion about the separate loan package. But flying traffic is down to 10%, with 5% normal loads coming to you very, very soon.
Explicitly said "no furloughs", however, and I assume this is for all employee groups.
04-01-2020 | 11:27 AM
#69
Moderator
Joined: Sep 2011
Posts: 8,330
Likes: 1,341
Ok maybe you guys can help fix my apparent misperceptions about this situation.
If this government payroll GRANT is to cover PAYROLL based on worker compensation from 1 April through 30 September 2019, why do we need to reduce our PAYROLL expenses now. The government is paying the salaries... why does delta care how much the government is paying their employees?
Speak slowly and use small words. I’m not that smart.
If this government payroll GRANT is to cover PAYROLL based on worker compensation from 1 April through 30 September 2019, why do we need to reduce our PAYROLL expenses now. The government is paying the salaries... why does delta care how much the government is paying their employees?
Speak slowly and use small words. I’m not that smart.
I get it, there are other overhead costs, separate from operating costs (fuel, maintenance, parts, etc), but the grant money was not intended to cover anything other than payroll. The Loan money (with the string of equity stake) is for those costs, but they don’t want the strings, thus the pressure on payroll.
04-01-2020 | 11:27 AM
#70
veut gagner à la loterie
Joined: Apr 2008
Posts: 23,286
Likes: 0
From: Light Chop
If I head right in the April 1 townhall, the 5 billion will only cover expenses for the next 2-3 months.
There was no discussion about the separate loan package. But flying traffic is down to 10%, with 5% normal loads coming to you very, very soon.
Explicitly said "no furloughs", however, and I assume this is for all employee groups.
There was no discussion about the separate loan package. But flying traffic is down to 10%, with 5% normal loads coming to you very, very soon.
Explicitly said "no furloughs", however, and I assume this is for all employee groups.
he did mention we still have 50,000 a day flying Hence we are still flying
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