Doesn't look like we'll hit that $2.5 billion profit. Did someone get fired over the fuel hedge?

Q2 Earnings Conference call webcast at:

Webcasts

FTB, I just wonder at what point we have to start dismantling hubs. Without a "critical mass" of connecting flight the O&D markets of any of our hubs, except New York, are unsustainable. An announcement on MEM or CVG would not surprise me. ACL talks about a "backside of the power curve" when really what he correctly means a "back side to the demand curve."

Europe keeps surprising Delta management with better than anticipated bookings. One man's "financial collapse" is another man's "cheap European vacation" not to mention all the government officials, bankers and politicians who can't turn a conference call into a photo op and who take their entire extended family with them, plus servants, when they travel (I'm not kidding, a friend of my wife works for one of them).

We need a simple rule. Bidders on contracts must be in a good faith position to take delivery and be actual consumers. (and yes, that would remove Delta from buying heating oil contracts)

The problem with sovereign wealth funds and Goldman entering the market in an overwhelming way is these non consumers "create the market." They profit from simple volatility. The actual price to them is meaningless (since they do not consume). All they care about is the direction of the price.

This unregulated and unfair market manipulation has a deeply harmful effect on businesses like ours ... and that trickles down to to the consumers who pay more due to the increase in costs as well as the cost of uncertainty.

Capitalism requires fair markets to function efficiently.

Southwest would disagree. These market makers provide liquidity to allow companies to hedge. I doubt that if delta made $1 billion in profit from the hedges, that they would pass through the savings to the consumer.

Well stated. I was unfairly throwing sarcasm out there.

best operational performance in Delta's history.
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further reduce capacity? Did I hear that? 5% for international this fall? Is that new or previously announced?

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500 50-seaters in 2008. So we dropped 150-200 since then?

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Bar, did you catch the domestic reduction flat to -2%? what was the for q2 or q3 or annual?

stupid iphone died (at 42% battery} after jp morgan guy asked if we were going to fall off the wagon. Dang.

Did hear that question about skw saying you cant get out of these contracts ad RA saying there is a confident path to 125 50s and thats all he would say.

He probably thought he was talking to Doug Parker. :D

It sounds like the plan going forward is less flying for Delta pilots and more new widebodies for our codeshare partners. Just announced 10 new 787's for Aeromexico... with delivery starting next year. Those aircraft will allow the feed that they provide to us to bypass our hubs and fly direct from MEX to LHR, NRT, CDG, PVG, etc...