Delta worked with GOL to replace loan
 

From memo to employees. So now we have the assets to pay off loans for airlines we don't even partner with but we can't pay contractual furlough pay to our own employees?

Full pay to the last F'n day.

Is this in a Delta memo? If so point us to it. That said, the news media articles stated that GOL came up with the money on their own.

It was posted on Deltanet. It said Delta helped them to refinance; not sure what that all entailed though and how much we ponied up.

Numbers are double top secret code word classified. It was stated we helped guarantee a new loan with more favorable terms and more time. Hopefully we didn’t burn a good favor from a useful finance Company. But we also are not paying full furlough pay while foregoing a very low interest rate $5B loan from Money bag Uncle Sam. Things that make you go hmm. Or rage scream into a pillow.

Delta, without disclosing details, was able to decrease their exposure to being on the hook for a $300 mil loan to GOL. They helped GOL negotiate better terms to enable GOL to continue to pay the loan, until air travel rebounds.

It will all come out in mid October (Q3 10-Q) if not before. The Sep. 9 presentation may have some Q&A about it, but then again maybe not. It does seem to be hush hush for now. Perhaps it looks bad for CARES 2 or OCT 1 furloughs and not drawing attention to it so it is forgotten or little known is intentional. Paying foreign carriers' debts while accepting one government bailout and asking for another, all while furloughing Americans who's pay was the focus of the bailout might not be the best brand image.