Cowen Conference
 

Delta Air Lines (NYSE: DAL) will present at the Cowen Global Transportation and Sustainable Mobility Conference at 8 a.m. ET on Wednesday, September 9, 2020.

https://news.delta.com/delta-present...ity-conference

Cowen link:

https://wsw.com/webcast/cowen69/regi...69/dal/1771035

bump... tomorrow

Reaffirmed $27M/day cash burn. Any deeper cuts would have structural impacts and hinder a recovery. Business travel still not coming back. Leisure travel is now close in booking. $15-16B in cash. Credit card doing well. Next update in earnings call for Q3 2nd week of October.

I’m assuming that $27 million/day burn and comments about further cost cutting hindering a recovery is before a pilot furlough? Makes one think...

Denny

Makes the estimated $1M/day to furlough 1941 pilots almost seem...unnecessary...in light of not being able to reduce costs even more without impacting the recovery.

Thanks for the brief.

Dela management wants to have everyone in fat categories so we can be ready to pounce when people decide Covid isn’t as scary as they’re being led to believe by the media. And they are correct, in my opinion. If we furlough, and bump and flush, it’ll take years to catch up, if a recovery occurs rapidly. I just flew 10 legs in 4 days, and all but one or two flights were as full as we could be, under our restricted load factor. I know it was a holiday weekend, but it’s obvious, at least to me, that slowly, people are getting over their Covid fears and getting on with their lives. This holiday season, I think people will come back in force, and by next summer, vaccine or not, we will be making money again, with business travelers back as well. It would be silly to train and retrain thousands of pilots. We can’t do it, and they don’t want to. They just want cost savings while we are at it, with an ALV reduction, that will affect the international categories, way more than domestic.

Just my $.02 whether you like it or not. (Not directed at you, Denny)

I traveling with the family for vacation twice in the last month, to nearby vacation spots by car. Both places were busy - restaurants were "full" to the capacity guidelines with a 45 minute wait at every place we tried. People were out and about.

I really think people want to travel - the problem is where... example: Glacier National Park is half closed - mostly because an Indian reservation on the East side isn't allowing anyone in. Several of the hotels/motels in the park are closed. So if you want to visit, and go outdoors and enjoy the scenery, it's difficult. So I'm sure some people are saying "Why fly all the way there?" Also, many of the small tourist sites are closed or very limited hours. Again - why travel when there is little to see?

Multiply that times everywhere else people like to visit...

So I think the demand is there, it's just there are many restrictions to things to see.

I would at least wait until the presidential election is over before doing anything drastic.

Interesting. My understanding is that, WRT Glacier National Park, the Eastern Europeans who normally work there in the summer didn’t come over this year, which is why some hotels and parts of the park are closed.

It still hurts tourism and travel. Another Covid casualty.