Delta vs SW AA UA
 

We’ve been told Delta “is the best position airline in the industry to weather this storm...”We’ve been told that “we are the best airline to whether any economic downturn.“ call delta could cut costs faster than any other airline Apple cost of the system faster than any other light“

However now that appears not to be remotely true! According to CNBC the airline losses for the second quarter 2020 are as follows:

DL $5.7B
AA $2.1B
UA $1.6B
SW $915M

Delta lost more money that the other 3 combined!!!!

Could some one please explain why Delta’s loss is so much bigger in comparison???

I believe it has to do with JV write offs. All of our JV’s are bankrupt.

How are all ours BK and none of any of theirs are?

And even then its just a paper write off of speculative book value, albeit real cash we did light on fire, but we still have the JV's despite the "loss" of money we already flushed down the drain. Its not like we were going to pump and dump their stocks and flip for mad cash as soon as their 200 day moving averages hit the golden cross etc. Every penny we "lost" was already flushed and the JV's we got for that money are intact, right?

Our adjusted pre tax was 3.9B
Not sure if the others numbers are GAAP or adjusted.

Delta included alot of non cash write offs and restructuring charges(777/M88 retirements). For a better idea of how business was run take a look at the Cash Flow statementshttps://uploads.tapatalk-cdn.com/202...ef10c68cf2.jpghttps://uploads.tapatalk-cdn.com/202...8afe4644f0.jpghttps://uploads.tapatalk-cdn.com/202...90f9a6d0d5.jpg

*edit
Just realized I added 6 month cash flows for UAL and AAL. Will update to 3 months

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According to CNBC are all same apples to apples numbers.

I think the key take away on this is that Delta owns large shares of most if not all of our JV partners. I know it sounds crazy, but some airlines just have JV's without buying part of the other company.

Revenue problem.
They added capacity back faster than we did in q2. For us it was muh HVC's and all.
They had agreements with their labor group for voluntary pay reductions in the form of SILs and other paid leave options that we did not. Flight ops management ****ed away a good chance at saving more $$$ in there fixation on preventing FA unionization at all costs.
GAAP accounting
Perhaps a wash in q3. we'll see.

You’d really think they would be doing anything and everything to save money instead of worrying about making non-unionized employees upset. Maybe they could follow the steps of the other companies who are losing less money and offer SILs to their pilots.
We didn’t put them in this situation. No concessions!

how about less charts and balance sheets and more executive summary kind of stuff.