Details on Delta TA
05-30-2015, 10:51 AM
#5131
Gets Weekends Off
Joined APC: Feb 2009
Position: right for a long, long time
Posts: 2,642
Originally Posted by TheManager
Oh, oh, kinda like when they tried to slip us CDOs in the LOA. Started from your super concession rumor machine too.
Originally Posted by Check Essential
I wouldn't believe it. Except-
History shows lots of things end up in TAs that the MEC never directed.
I'm cautiously optimistic this time though.
If the "rumor mongers" are correct about this last meeting; that the reps actually over-ruled the administration on some of these concessions; then that is "historic".
History shows lots of things end up in TAs that the MEC never directed.
I'm cautiously optimistic this time though.
If the "rumor mongers" are correct about this last meeting; that the reps actually over-ruled the administration on some of these concessions; then that is "historic".
"history shows lots of things...."? I want to know more on that. Seriously, let's discuss via PM if you're willing. You've been at DL longer than I have (I think?).
The Reps elect the MEC officers and NC. They can overrule, recall, redirect, etc. They have that authority and have been using it a lot recently! (9 meetings in the last 5 months) I also don't think the current 19 Reps would bring us a flaming bag of PooWA anyway.
Originally Posted by Hawaii50
The good news then is once the TA comes out without any of the rumored items mentioned for months here we can fart in the general direction of the wolf criers.
05-30-2015, 11:16 AM
#5132
Gets Weekends Off
Joined APC: Jul 2007
Position: Left seat of a little plane
Posts: 2,397
Originally Posted by Dirtdiver
If they take away rolling thunder for reserves, all other things remaining the same, they'll just end up with the same trips being covered GSWC. Just rearrange the deck chairs...
Now, if we could get rid of out-of-base WSs, those would all be GSs
Now, if we could get rid of out-of-base WSs, those would all be GSs
05-30-2015, 11:23 AM
#5134
Gets Weekends Off
Joined APC: Apr 2014
Posts: 367
Originally Posted by rube
Suckers.
Leaks, lies, and target balloons. You guys are giving the company exactly what it needs to hose us at the table.
And I lose about six grand every time Lewis pushes "send" on an email.
Leaks, lies, and target balloons. You guys are giving the company exactly what it needs to hose us at the table.
And I lose about six grand every time Lewis pushes "send" on an email.
You may then end up owing the company money.
It's seems like the reps have stepped in and the checks and balances are working as they were originally engineered to do.
Sent from my iPhone using Tapatalk
05-30-2015, 12:15 PM
#5135
Gets Weekends Off
Joined APC: Aug 2007
Position: undefined
Posts: 328
Rumor Trial
It would be interesting to compile all the "rumors" everyone has heard, and compare them to the TA when it comes out to see how close they actually came.
When I read the C1 newsletter this was the first thing I thought of... These rumors tend to be in the general, without a lot of specifics. What metric will be used to determine if the alleged rumor was in fact close enough to what came out in the end...
So far we have:
9/9/5/5
9/6/5/5
Sick Leave harassment
Reduction of profit sharing
GS going away/Significantly reduced
What did I miss. This will sure to be cataloged for the next time we have a contract negotiation and the usual suspects with through them back and forth. Lets set the record straight now!
When I read the C1 newsletter this was the first thing I thought of... These rumors tend to be in the general, without a lot of specifics. What metric will be used to determine if the alleged rumor was in fact close enough to what came out in the end...
So far we have:
9/9/5/5
9/6/5/5
Sick Leave harassment
Reduction of profit sharing
GS going away/Significantly reduced
What did I miss. This will sure to be cataloged for the next time we have a contract negotiation and the usual suspects with through them back and forth. Lets set the record straight now!
05-30-2015, 12:45 PM
#5138
Gets Weekends Off
Joined APC: Feb 2008
Posts: 19,273
Originally Posted by notEnuf
"at risk" debunk #2
Here's my latest find. It took some digging and a little review of last years quarterly updates. This requires a compare and contrast of the two Q1 reports but is summarized best by Ed Bastian.
Here's the two reports.
2014 Q1
http://ir.delta.com/files/doc_financ...001_j55rj9.pdf
2015 Q1
http://ir.delta.com/files/doc_financ...001_k0ii9v.pdf
Both reports contain a discussion of Q2 revenue under the heading Revenue Environment.
The 2014 statement by Ed Bastian
“March quarter's top line growth of 5 percent shows the strength of Delta's revenue momentum even through the revenue loss from weather and a shift of the Easter holiday traffic into April,” said Ed Bastian, Delta’s president. "We see continued revenue strength as we move through the year from corporate revenue gains, the benefits of the Virgin Atlantic joint venture and improved ancillary revenues. These initiatives, coupled with a solid demand environment, should lead to unit revenue growth in the mid-single digits for the June quarter."
The 2015 statement by Ed Bastian
“For the March quarter, Delta delivered solid 5 percent top line growth and a 17.8 percent operating margin at market fuel prices,” said Ed Bastian, Delta’s president. “The substantial benefit from lower fuel prices will again more than offset the unit revenue decline of 2 to 4 percent for the June quarter to produce operating margins north of 20 percent at market fuel prices.”
2014 = mid single digit growth in revenue
2015 = 2-4% revenue decline
2014 = margin was 14.9%
2015 = margins north of 20% for June quarter
How can that be? Reduced revenue but increased margin? The only answer is costs. Fuel to be specific. We will hit it out of the park at market price fuel. Remember hedges were written down early so we have a market price fuel expense. That gives us a favorable peer to peer comparison on an even playing field. That will surely help the stock price. Focus on the margins though, that is what helps our profit sharing. We care about earnings not stock price or EPS.
June quarter profit sharing contributions will out pace last year.
The only risk to us collecting this is if we give it away.
We now have 2 quarters trending above 2014 with our historically best quarter of the year next Q3.
Here's my latest find. It took some digging and a little review of last years quarterly updates. This requires a compare and contrast of the two Q1 reports but is summarized best by Ed Bastian.
Here's the two reports.
2014 Q1
http://ir.delta.com/files/doc_financ...001_j55rj9.pdf
2015 Q1
http://ir.delta.com/files/doc_financ...001_k0ii9v.pdf
Both reports contain a discussion of Q2 revenue under the heading Revenue Environment.
The 2014 statement by Ed Bastian
“March quarter's top line growth of 5 percent shows the strength of Delta's revenue momentum even through the revenue loss from weather and a shift of the Easter holiday traffic into April,” said Ed Bastian, Delta’s president. "We see continued revenue strength as we move through the year from corporate revenue gains, the benefits of the Virgin Atlantic joint venture and improved ancillary revenues. These initiatives, coupled with a solid demand environment, should lead to unit revenue growth in the mid-single digits for the June quarter."
The 2015 statement by Ed Bastian
“For the March quarter, Delta delivered solid 5 percent top line growth and a 17.8 percent operating margin at market fuel prices,” said Ed Bastian, Delta’s president. “The substantial benefit from lower fuel prices will again more than offset the unit revenue decline of 2 to 4 percent for the June quarter to produce operating margins north of 20 percent at market fuel prices.”
2014 = mid single digit growth in revenue
2015 = 2-4% revenue decline
2014 = margin was 14.9%
2015 = margins north of 20% for June quarter
How can that be? Reduced revenue but increased margin? The only answer is costs. Fuel to be specific. We will hit it out of the park at market price fuel. Remember hedges were written down early so we have a market price fuel expense. That gives us a favorable peer to peer comparison on an even playing field. That will surely help the stock price. Focus on the margins though, that is what helps our profit sharing. We care about earnings not stock price or EPS.
June quarter profit sharing contributions will out pace last year.
The only risk to us collecting this is if we give it away.
We now have 2 quarters trending above 2014 with our historically best quarter of the year next Q3.
Just a small point. Delta has not written down all their fuel hedges. They have written down some of the hedges but are still deeply on the down side. That is the specific reason Bastion keeps mentioning margins at market fuel prices. Management does not want to talk about how badly they have managed our fuel situation. We are going to pay well above market rates for the rest of this year. Our actual margins will be less then the market fuel rate margin. The later sounds better when talking to wall street.
05-30-2015, 12:50 PM
#5139
Runs with scissors
Joined APC: Dec 2009
Position: Going to hell in a bucket, but enjoying the ride .
Posts: 7,723
Yup, it's ok to blow billions on bad hedging, but the company wants to focus on a few sick leave abusers who cost the company....millions??
Maybe if the fuel hedging guys had called in sick more, we wouldn't have lost billions!
Maybe if the fuel hedging guys had called in sick more, we wouldn't have lost billions!
05-30-2015, 12:51 PM
#5140
Gets Weekends Off
Joined APC: Dec 2009
Position: Capt
Posts: 2,023
Originally Posted by sailingfun
Just a small point. Delta has not written down all their fuel hedges. They have written down some of the hedges but are still deeply on the down side. That is the specific reason Bastion keeps mentioning margins at market fuel prices. Management does not want to talk about how badly they have managed our fuel situation. We are going to pay well above market rates for the rest of this year. Our actual margins will be less then the market fuel rate margin. The later sounds better when talking to wall street.
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