Capital Markets Day
 

December 16th. This is the old Investor Day. The bond/debt market is a key component. Regaining our investment grade bond rating will be paramount.

https://ir.delta.com/news/news-detai...1/default.aspx

Todays filing. Ownership update. Spending another $1.2B on partners. Stakes are now less than half of their prebankruptcy levels.

https://www.sec.gov/Archives/edgar/d...lta_ex9901.htm

Wall street appears to dislike the news.

MY opinion only... This is a pay to play move. We obviously aren't ready to ramp up international and don't have the airframes to compete with United as the international recovery takes hold. To keep our network in tact we have to prop up our failed investments. Wall street sees this. We can either learn from others mistakes or our own, but to not learn will be punished. We will retain 49% of Virgin directly with additional control through intermediate investments. The London slots and banking hub are still the most valuable assets.

DAL down less than United and American, so they dislike AA and UA more I suppose.

It must be volitile, im looking at the list and AA by percentage lost least as of this moment. Your F5 key may vary

Were our previous investments and equity taken to "0" in bankruptcy?

I don't have the details but the plan changed recently for AM. Delta is specified as a key supporter of the latest plan. Delta had both equity and debt positions so I would imagine the equity was 0 and the debt and DIP financing qualifies them for 20%. https://aeromexico.com/cms/sites/def...YzOTU0MzU1Mi4w

IT IS HEREBY ORDERED THAT:
1. The Sealing Motion is granted as set forth herein.
2. The Debtors are authorized to (a) file the Exhibits on the public docket of the
Chapter 11 Cases with the Confidential Information redacted and (b) submit unredacted versions
thereof to the Clerk of the Court, along with a copy of this Order, clearly labeled “TO BE FILED
UNDER SEAL.”
3. The Confidential Information shall remain confidential and shall not be made
available to anyone (other than the U.S. Trustee and the respective advisors to the Committee,
the DIP Lenders, the Ad Hoc Group of Senior Noteholders, and the Ad Hoc Group of Unsecured
Claimholders on a “Professionals Eyes Only” basis) without the prior written consent of the
Debtors.

Event link, 8:15am tomorrow.


https://event.on24.com/wcc/r/3499693...7B872A34488274

I think a key slide in there is that they consider employee utilization at 87% today along with a/c (87%) and they expect employee utilization to be 100+% in 2024 with aircraft at 100%. WTF are they expecting??? :eek:

Also, they don't expect wages to increase appreciably until 2024...that's when they're target a new PWA for us I guess.

Final takeaway: meaningful profitability in 2022, and greatly exceeding 2019 profits in 2024. IDK what that means for 2023, just a huge WAG for now.