DAL whines about sick & loses $2 BILLION...
12-10-2015, 06:07 AM
#1
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Joined APC: Feb 2014
Position: Legacy FO, T-38 IP
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DAL upset about sick & loses $2 BILLION...
Management talks about sick leave use and "abuse" while losing $1.95 billion in oil hedges.
Delta's 2015 oil hedge loses:
"Getting it wrong has been costly. Hedging losses over the past three quarters totaled $1.95 billion for Delta, the world’s third-largest airline."
http://www.bloomberg.com/news/articl...ost-to-hedging
Delta's 2015 oil hedge loses:
"Getting it wrong has been costly. Hedging losses over the past three quarters totaled $1.95 billion for Delta, the world’s third-largest airline."
http://www.bloomberg.com/news/articl...ost-to-hedging
Last edited by Merle Dixon; 12-10-2015 at 06:32 AM. Reason: Grammar
12-10-2015, 06:42 AM
#2
Gets Weekends Off
Joined APC: Oct 2013
Posts: 106
Agreed.
But the fuel hedging losses pale in comparison to the stock buybacks. $7 BILLION over 3 1/2 years. And those are completely voluntary by the company.
The fuel hedge losses suck and show incompetence by the people in charge of them, but at least I'm pretty sure that they didn't TRY to lose money on them.
The stock buyback, at near 52 week highs, is totally discretionary. Same with the decision to hike the stock dividend by 50% (not included in the $7B figure above).
It would be like you or I deciding to cash out our 401k and use the $$ to buy X number of high end Porsche's or Mercedes, but then complaining loudly that our home utilities went up $100/year and it's hurting our bottom line.
KMA Delta.
But the fuel hedging losses pale in comparison to the stock buybacks. $7 BILLION over 3 1/2 years. And those are completely voluntary by the company.
The fuel hedge losses suck and show incompetence by the people in charge of them, but at least I'm pretty sure that they didn't TRY to lose money on them.
The stock buyback, at near 52 week highs, is totally discretionary. Same with the decision to hike the stock dividend by 50% (not included in the $7B figure above).
It would be like you or I deciding to cash out our 401k and use the $$ to buy X number of high end Porsche's or Mercedes, but then complaining loudly that our home utilities went up $100/year and it's hurting our bottom line.
KMA Delta.
12-10-2015, 06:49 AM
#3
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Joined APC: Mar 2015
Position: stake holder ir.delta.com
Posts: 10,033
And all of this is being done from the polar opposite of bankruptcy......record profits!
Why are we still on the bankruptcy based pay scale, benefits, work rules and retirement?
Bankruptcy abuse!
RESTORATION is the only answer. Improvements over that are warranted given the record breaking track and the future international expansion. Oh, and keep profit sharing (thank you very much) it will be some time before we are made whole for the losses to this point.
Why are we still on the bankruptcy based pay scale, benefits, work rules and retirement?
Bankruptcy abuse!
RESTORATION is the only answer. Improvements over that are warranted given the record breaking track and the future international expansion. Oh, and keep profit sharing (thank you very much) it will be some time before we are made whole for the losses to this point.
12-10-2015, 07:33 AM
#7
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Position: 737A
Posts: 228
Originally Posted by BobZ
I'm wondering when the part of this group with a terminated pension is going to wake up to the reality they have been completely scammed by both management and alpa........
12-10-2015, 08:40 AM
#8
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Posts: 672
Originally Posted by BobZ
I'm wondering when the part of this group with a terminated pension is going to wake up to the reality they have been completely scammed by both management and alpa........
12-10-2015, 09:37 AM
#10
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Joined APC: Feb 2008
Posts: 2,324
Originally Posted by Merle Dixon
Management talks about sick leave use and "abuse" while losing $1.95 billion in oil hedges.
Delta's 2015 oil hedge loses:
"Getting it wrong has been costly. Hedging losses over the past three quarters totaled $1.95 billion for Delta, the world’s third-largest airline."
U.S. Airlines Are Betting Oil Prices Won't Rally Any Time Soon - Bloomberg Business
Delta's 2015 oil hedge loses:
"Getting it wrong has been costly. Hedging losses over the past three quarters totaled $1.95 billion for Delta, the world’s third-largest airline."
U.S. Airlines Are Betting Oil Prices Won't Rally Any Time Soon - Bloomberg Business
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