PilotWombat

As I watch the replay of this townhall, I wanted to make mention of a couple things. Some of this was apparent already, but it's about time management finally started coming clean about it.

• Ed finally came clean about the purpose of asking for leaves and the way those interact with the CARES act. The money we get from the grant is static, no matter what our personnel costs are today or how much is spent between now and Sept 30. By taking leaves now, the end result is that that grant money lasts longer. All of this talk about "the best thing you can do for Delta now is to take an unpaid leave" isn't for now, it's for 6 months from now.
• As a condition of the grant, but unrelated to employee costs or how long the grant money lasts, are no furloughs until Oct 1. After that, it's game on. He wouldn't rule out involuntary personnel reduction then.
• They mentioned they have 6 billion dollars in the bank right now, which is about 90 days worth ($67M/day? That number keeps going up...). That combined with the $5-6B we're getting from the government to cover employee costs means we have the cash to operate for at least 6 months, with no other interventions
• They really want to avoid the "quasi nationalization" (government equity) aspect of the loan programs. I expect they'd furlough half their employees before they took them.
• Ed was given a blanket question to "give an update on our pilots." He finally acknowledged the cost savings from the pilot group...but then immediately followed it up with talk of "there's more to be done" and "shared sacrifice". Shorter than most other answers

That's only about 35 minutes in, so if they say more, I haven't gotten that far yet.

mikea72580

-I’ll add that someone asked if it’s a rumor or if it’s true that some employees can receive more money in unemployment benefits than their full time salary. She said that it’s true, you can earn more in unemployment depending on your job and in which state you live. And they believe that word of this getting around has contributed to the very large number of leaves being taken.

-It doesn’t take a genius to realize they are going to furlough on October 1st. Of course as management, you never let the F word leak out until the day it’s announced. But it’s obvious that they are beginning to use language that they hope will blunt the outrage when people are cut loose, especially the ones who are on leaves right now to “save” the company. Expect continued heavy used of phrases such as “We will emerge a smaller airline” and “the recovery will take 3 to 4 years”. Expectation setting is in its infancy, but it has undoubtably begun.

3 green

Did anyone ask him why he's only giving back 3% of his income? Is he giving back any of the $129,000,000 from stock buybacks..

AirbusPTC

Did anyone ask when EB will resign?

Jaww

I’ve posted this before and I’ll do it again. Reading the comments on those town halls is a sycophantic puke fest. I can’t believe how ignorant people are and easily swayed by words with no actions.

Speed Select

Who do you have in mind to replace him?

Abouttime2fish

Mark Cuban


fillrt

53x11

I like Mark but he’s not dumb enough.

dbrownie

Any indications if they will be offering SILLs moving forward? There is no way I'd take a 100% pay cut voluntarily.

TANSTAAFL

Many of those comments are made by people you could probably link to an adjacent cubicle or OC1/2 space.

The most ridiculous/disgusting/bizarre I saw was yesterday’s PB briefing quoting FO Capt RG wisdom and observations from operating in the current airspace system and the boot licking servile compliments of both their amazing leadership 🤮