No payback on an x day, otherwise its treated like a normal workday and there's a travel day with hotel.

 

There was a hot looking Gullwing Mercedes parked outside our hotel in Dubai a couple days ago.

I've never seen one in the states, but you will see some pretty nice stuff rolling around the streets of Dubai.

I think it was this one:

2013 Mercedes Gullwing - Bing Images

I've also seen a few McLarens running around over there, I don't think they pass the test to be imported to the USA, I've not seen one over here:

http://www.bing.com/images/search?q=...6D&FORM=IQFRBA

 

But, that's a ford gt40, whole notha animal. Back in the 60s when the car came out, it was dominant. I believe it was the first car ever that could exceed 1 lateral G on the skidpad.

Bar's pic is of the re-released version.

I became semi-amigo's with a guy that owned a Honda dealership in Columbus. He was an avid car collector and had 2 fantastic 60s vintage gt40s (among other cars).

I've always liked the look of the pantera and have passed on several at auction mainly due to the poor quality of the metal used in the body - fear of excessive hidden rust. They rust from the inside out.

 

IF on RES, it's treated like a res day. If you do any or all on X days, you get paid for those days on top of RES guarr. No payback days.

 

Delta Air Lines Announces September Quarter Profit

ATLANTA, Oct. 22, 2013 /PRNewswire/ -- Delta Air Lines (DAL) today reported financial results for the September 2013 quarter. Highlights from the quarter include:
•Delta's net profit for the September 2013 quarter was $1.2 billion, or $1.41 per diluted share, excluding special items1. This result is a $444 million improvement year-over-year.
•Including $157 million in special items, Delta's GAAP net income was $1.4 billion, or $1.59 per diluted share.
•The company began returning capital to shareholders, with $100 million in share repurchases and $51 million in dividend payments.
•September quarter results include $249 million of profit sharing expense in recognition of Delta employees' contributions to the company's financial performance.
•Delta generated $1.2 billion of operating cash flow and $627 million of free cash flow in the September 2013 quarter, and ended the period with adjusted net debt of $9.9 billion.

(Logo: Login )

"Delta's outstanding financial results, operational performance and customer service this quarter reflect the hard work of 80,000 Delta employees worldwide," said Richard Anderson, Delta's chief executive officer. "These results reflect the progress we've made over the last five years, and we have even more exciting opportunities ahead of us as we build a better airline for our customers, employees and investors."

Revenue Environment

Delta's operating revenue improved $567 million in the September 2013 quarter compared to the September 2012 quarter. Traffic increased 2.1 percent on a 2.6 percent increase in capacity.
• Passenger revenue increased 6.7 percent, or $581 million, compared to the prior year period. Passenger unit revenue (PRASM) increased 4.0 percent year over year with a 4.5 percent improvement in yield.
• Cargo revenue decreased 6.1 percent, or $15 million, on declining freight yields.
• Other revenue was flat year over year as growth in Delta's third-party staffing business revenues offset a decline in third-party maintenance revenues.

Comparisons of revenue-related statistics are as follows:







Increase (Decrease)

3Q13 versus 3Q12


Passenger Revenue


3Q13 ($M)


Change

YOY

Unit

Revenue

Yield

Capacity


Domestic

$

4,121



10.7

7.7%

8.9%

2.7%


Atlantic


1,853



9.0%

5.6%

4.3%

3.2%


Pacific


1,044



(5.0)%

(4.2)%

(3.9)%

(0.8)%


Latin America


548



16.0%

1.6%

2.1%

14.1%


Total Mainline


7,566



8.2%

4.9%

5.2%

3.2%


Regional carriers


1,688



0.5%

2.2%

4.9%

(1.6)%


Consolidated

$

9,254



6.7%

4.0%

4.5%

2.6%


"The momentum we have built by running an outstanding operation and investing in our product and people enabled a 7 percent revenue growth, with particularly strong performance in Atlanta, New York and London," said Ed Bastian, Delta's president. "The revenue environment appears solid through the end of the year, including strong holiday bookings, and we expect to continue to build on the revenue premium we deliver versus the industry."

Cost Performance

Total operating expense in the quarter increased $312 million year-over-year driven by higher volume- and revenue-related expenses; the impact of operational, service and employee investments; and $75 million higher profit sharing expense. These cost increases were partially offset by the savings from Delta's structural cost initiatives. Non-operating expense declined as a result of lower interest expense and a $40 million benefit for the portion of Virgin Atlantic's September quarter profit attributable to Delta's ownership stake.

Consolidated unit cost excluding fuel expense, profit sharing and special items (CASM-Ex2), was 1.1 percent higher in the September 2013 quarter on a year-over-year basis, driven by the impact of wage increases and operational and service investments. GAAP consolidated CASM increased 1.0 percent.

Fuel expense, excluding mark-to-market adjustments, declined $81 million as a result of lower market fuel prices and better settled hedge performance. Delta's average fuel price3 was $2.97 per gallon for the September quarter, which includes $0.06 in hedge gains. On a GAAP-basis, fuel expense for the September quarter increased $74 million year-over-year, driven by lower mark-to-market gains on hedges.

For the September quarter, operations at the Trainer refinery produced a $3 million profit. While lower crack spreads pressured results at the refinery, they also reduced market jet fuel prices and helped lower Delta's overall fuel expense.

Cash Flow

Cash from operations during the September 2013 quarter was $1.2 billion, driven by the company's September quarter profit. The company generated $627 million of free cash flow.

Capital expenditures during the September 2013 quarter were $635 million, including $450 million in fleet investments and $61 million for the purchase of 12 aircraft off lease. During the quarter, Delta's debt maturities and capital leases were $430 million.

In the September quarter, the company began returning capital to shareholders. On Sept. 10, the company paid $51 million to shareholders, which represents the $0.06 per share quarterly dividend declared earlier in the year. In addition, the company repurchased 4.8 million shares at an average price of $20.82 for a total of $100 million. The company has $400 million remaining of the $500 million share repurchase plan authorized by Delta's Board of Directors in May.

Delta ended the quarter with adjusted net debt of $9.9 billion and the company has now achieved over $7 billion in net debt reduction since 2009. This debt reduction strategy produced a $33 million year-over-year reduction in interest expense in the September quarter. As of September 30, 2013, Delta had $5.8 billion in unrestricted liquidity, including $4 billion in cash, cash equivalents and short-term investments, and $1.8 billion in undrawn revolving credit facilities.

"The $1.8 billion in free cash flow we have generated so far this year has allowed us to achieve our initial $10 billion debt target and start down the path toward our new $7 billion target," said Paul Jacobson, Delta's chief financial officer. "With consistently solid cash generation, we are moving forward with our plan to return capital to shareholders while continuing to invest in the company and strengthen our balance sheet."

Company Highlights

Delta has a strong commitment to its employees, customers and the communities it serves. Recent Delta highlights include:
•Recognizing the achievements of Delta employees toward meeting the company's financial and operational goals with $456 million of incentives so far this year, including $387 million in profit sharing expense and $69 million in Shared Rewards payments;
•Significantly improving its operational performance, resulting in an on-time arrival rate of 83 percent and a 99.8 percent completion factor so far this year. This completion factor performance includes 40 days of 100 percent mainline completion factor;
•Receiving final approval from the U.S. Department of Transportation for Delta's joint venture with Virgin Atlantic Airways with a grant of anti-trust immunity. The joint venture will allow the airlines to deepen their cooperation, offering more flight choice for travelers on both sides of the Atlantic and improving the travel options for business customers in the New York to London market;
•Equipping Delta's crews with enhanced technology by providing all flight attendants new Windows Phone 8 handheld devices that will streamline on-board purchasing and improve the customer experience and also announcing plans to provide Delta's 11,000 pilots with the Microsoft Surface 2 tablet, allowing pilots more efficient access to real-time flight information; and
•Continuing to support the communities we serve through Delta's Force for Global Good, including raising nearly $7 million since 2005 for the Breast Cancer Research Foundation and furthering the foundation's goal of breast cancer awareness with Delta's Pink Plane, a 767-400 dedicated to Evelyn Lauder and featuring BCRF's trademarked pink ribbon logo on the tail of the aircraft.

Special Items

Delta recorded special items totaling a $157 million gain in the September 2013 quarter, including:
•a $285 million gain for mark-to-market adjustments for fuel hedges settling in future periods; and
•a $128 million charge for facilities, fleet and other items, primarily associated with Delta's domestic fleet restructuring.

Delta recorded special items totaling a $279 million gain in the September 2012 quarter, including:
•a $440 million gain for mark-to-market adjustments for fuel hedges settling in future periods;
•a $39 million gain associated with the exchange of slots at New York-LaGuardia and Washington-Reagan National;
•a $12 million loss on extinguishment of debt;
•a $66 million charge for severance and related costs; and
•a $122 million charge for facilities, fleet and other, including charges resulting from the closure of Comair.

December 2013 Quarter Guidance

Following are Delta's projections for the December 2013 quarter.




4Q 2013 Forecast





Operating margin

7 – 9%


Fuel price, including taxes, settled hedges, and refinery

impact

$3.03 – $3.08












4Q 2013 Forecast

(compared to 4Q 2012)





Consolidated unit costs – excluding fuel expense and profit sharing

Up ~2%


System capacity

Up 1 – 3%


Domestic

Up 1 – 3%


International

 

Nice upside surprise. I think the high end of the analyst estimates was $1.36. Hope the stock responds favorably.

 

Crossing the under $10bn in debt is the real story today.
Expect good refinancing of our debt, making payments much less; ergo creating free cash flow.

Cash flow = bucks.
Bucks= Buck Rogers

Standby for good fights for Seattle, Asia and against ME carriers.
Giddeeeeup.

 

Time for a raise. Oh, wait. Not until 2015. Where's a Dubinsky when you need him?

 

Depends on the economics.

Now when he said that, wasn't the United MEC Chairs making back room deals to award an ALPA Staff Attorney $375,000 in 1989 and two million in 1994?

The results were disastrous. The Board brought in Glenn Tilton.

http://www.pbs.org/wgbh/pages/frontl...9&continuous=1

Look 8 minutes in. Then go to the 10 minute mark.

http://www.pbs.org/wgbh/pages/frontl...tirement/view/

Unlike United, we should be well positioned for C2015.

The problem will be the next next Gen small jets and renewal of the MD88 fleet.

The previous MEC Chairman (and most Reps) acceptance of Delta pilots being just another seat at the table will complicate negotiations. We could get whipsawed. We can fix that. I will lobby our incoming MEC Chair (whoever that will be) and continue working on my Reps.

 

Good thing we rushed into 4833 and ALV+15.