And that's the sanitized, "don't offend anyone" version...

Nu

Duh!

What I found weird is one of the guys I know flying large metal under contract had a e-mail telling him that DAL is looking for applicants. I have not seen the e-mail and questioned him what he read, so I asked him to forward it to me when he gets out of Africa. They may just want everyone to update, which of course he did.

I will be amazed if we see up-gauging back to previous NB aircraft. I do expect ALPA to rationalize why we didn't by trotting out and dusting off the tried and true "look what happened to AMR" and "look at that great PS check"

What is really frightening is management thinks there is uncertainty on who will fly those airplanes. I wonder whatever gave them that idea?

http://woofingtonsworld.com/wp-conte...s-a-beauty.jpg

ACL,

We have a Department that collects and reviews applications. As long as Delta pays them they they will solicit and review applications. Kind of like the way Vegas runs off the Hoover Dam. If people disappear, the slot machines would likely run until the lake goes dry.

What 80 misses in the doom and gloom of Section 6, is that Management is dressing up in clown suits and serving cake (really). They are not at all doom and gloom. They are rather pleased with themselves. Delta's doing very well. (and I'm grateful too :) )

Don't know how to break it to you guys... The regional pilots recognize this for what it is ... we're getting whipsawed by all the outsourcing we have allowed. When management tells you ... "oh Jeez, you're the best but we just don't know what it would cost here..." That is whipsaw. Our competition in LGA is GoJets. That's nauseating.

While much is made of the billion dollars worth of upgrades our fleet is getting, it pales to the 7.4 Billion spent on 255 jets with 90 to 100 seat capacity.

Fantastic point and question to ask Bar.

And depressing too! I still think we need to pay for these billboards:

http://i938.photobucket.com/albums/a...d/temp4-17.jpg

BTW, if APCF is a crack pipe then there is a big fat J with Labrador going around...

http://i938.photobucket.com/albums/a...g?t=1308687432

Where's B-U-double-Z? He's LAX based, he'd know how to fix this.

Speaking of big fat J's...

http://joshspector.com/wp-content/up...7.31.57-PM.jpg


By the way, there is no need to jump. We got profit sharing, we still have a chance of something in C2012 and best of all...

MORE MD PRODUCTS!

http://cdn-www.airliners.net/aviatio.../0/1952068.jpg

Bar?!? Don't jump. It's never the way.

Hedge fund manager's brief, informal, review of Delta's 10K: (not my work)

-----

DAL's 2011 10-K is out (attached). I've delved into it, and it's really weak on the detailed info that DAL used to publish in the past (like changes to the Connection Carrier agreements and termination dates).

Noteworthy in DAL's calendar 2011 results is that their Pax & Cargo operations revenue ($31.3B) was about $1.8B short of expenses ($33.1B), ref. pg. 48 (.pdf file pg. 55). The only reason DAL made a profit in 2011 was due to their $3.8B in "other" income (bag fees, outside MRO business, etc.).

In other news, DAL didn't park any more DC-9s in the fourth quarter, they're still at 24, so we'll have to wait and see how long it takes for those to leave... Mainline is now down to 707 aircraft, approx. 50 aircraft less than when DAL and NWA merged, nearly four years ago. While DCI is down over 100 aircraft, net; Comair and Mesaba combined, have lost north of 200 aircraft since their respective "bankruptcies". Also, while not mentioned specifically there-in, all of MSA's Saabs have now been removed from DCI revenue service, and DAL will be removing the last of the 12 SKW Brasilias (pro-rate operation) by the end of May (~ 3 months away).

If you're interested, pages 20, 26, 27, 63, and 64 (.pdf file pgs. 26, 32, 33, 72, and 73) detail DAL's five-year $1.2B JFK expansion program, and states that they're spending $100M at LGA to renovate and consolidate the DAL and USAir terminals into their NE domestic hub.

Next, and this is revealing, take a look at pg. 72 (.pdf file pg. 81), for Delta's discussion of lease obligations. The first table is their capital lease obligations (rent-to-own). Note how their values decrease with time, and then for the period beyond 2016 (2017 and subsequent) it totals only $323M - less than the value of two years' worth of capital lease payments at the 2016 rate. This points to either a shedding of airframes, or the completion of the capital leases. The very next table does point to a substantial shedding of airframes. Look at the second table on that page ,"Operating Leases" (rent and return). Note that the third column in this table is the projected value of the operating lease expenses for DCI, going forward. While the Republic CPA for the 24 CHQ E-145s terminates in mid-2016, reflected by the 11% reduction in Delta's DCI operating lease expenses in that year, note that the value of the DCI operating lease expenses beyond 2016 (2017 and subsequent) totals only $928M - substantially less than the value of two years' worth of operating lease payments at the reduced 2016 rate of $449M. This projection supports their prior statements regarding the removal of ALL of PCL/MSA's CRJ-200 aircraft by year-end 2017. While ASA/XJT and SKW have a defined wind-down of aircraft lease returns through September 8, 2020, PCL/MSA's CRJ-200 fleet loses its entire CPA on December 31, 2017. Those 141 aircraft comprise 71% of PCL/MSA's jet fleet, and would leave them with just 57 CRJ-900s (assuming PCL doesn't file for bankruptcy protection, and reject the CPA for the 16 pre-merger PCL -900s).

Exhibit "A" on .pdf file pg. 127 (Exhibit 10.17, page 11) shows the DCI completion and A14 goals for 2012.

Finally, if you've ever wondered how DAL mgt.'s bonuses are calculated, exhibits 10.15 and 10.17 (.pdf file pgs. 104 - 127) detail those specifics for you.

... have to revisit this, kids screaming...

Since every working group at the airline got DOH, but the pilots have a 1987 pilot at 5% and a 1986 pilot at 30%. Lets see how this works when we merge with a airline like Jetblue. Will a 11 year JB pilot be senior to a DAL pilot with 35 years since he is at a higher relative seniority?

To one of the scope numbers experts:

How close is our mainline fleet to the number where an increase of one mainline jet allows three additional RJs? If they keep the 9's here to overlap with the -900 deliveries, could it push us over the threshold? Scary thought when you think about adding 200-300 RJs since that number does not go back down when they do park the 9's. Could that be part of the push for a contract extension? Keeps the current (ridiculous) scope clause in effect long enough for them to take advantage of it?