Virtucon (Delta) and Profit Sharing
 

Management is extremely proud of their advancements in building a virtual air line.

Spending billions to purchase 49% of their partners instead of buying widebody aircraft for Delta.

I'm sure China Eastern is a real bargain right now and we are scooping up shares.

Reducing.profit sharing has always been a horrible idea, but this is icing on the cake. The only way we are going to benefit from these JVs is through profit sharing. We would all rather Delta perform this flying, but until we have the scope to make that happen:

PROFIT SHARING IS OFF THE TABLE

They can have our profit sharing on the day they fully restore our 60% FAE defined benefit plan or when the sun burns out. Whichever comes first.

I agree, but we also have to look out that Delta does not "Offshore" it's JV profit from us. More Scope to contain!

EB is refilling his Ambien after writing our PS checks.

Spot on gzsg.

So 5 minutes on the internet (of things) and I found...

Etihad owns 24% of Jet
Jet shares are at 755 INR (Indian Rupee)
Jet has 113,597,383 shares outstanding traded on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in Mumbai
1 INR = 0.015 USD

49% of Jet could be acquired for $615M USD plus a premium to complete the transaction. 24% from Etihad and 25% on the open market for an all in price of ~ $750-$800M USD after fees and premiums.

You heard it here first!

Or

It could be nothing. DYODD.

Preach it GZSG


BlueRidge....you're right. I hope we have a way to protect us from Delta finding a way to hide the money somewhere else.

I hope guys will wake up and finally see how small our side body fleet is...and how much of our wide body flying is given away. If it were up to Dick and Fast Eddy, we would become a Southwest on steroids. We'll have a robust domestic network and have a few token wide bodies, but most of the wide body flying will be accomplished by VA, China Eastern, etc

Why buy the Cow (wide body aircraft) when you can get the milk (ticket sales on other airlines) for free?

Richard wants Delta to be the world's largest travel agency.

But hey, at least we have the JV agreements in place. That'll protect us. JV agreements with absolutely no remedy language. Production balance? That makes me feel good. Hmmm, so how does that work? Oh yeah, company is out of balance. What can we do? Grieve it. We already did. And we set precedent to sell jobs for peanuts.

At least we got that going for us.

When I got hired in 2000, Leo Mullin wanted to recession proof Delta Air Lines. While UAL and AMR were buying 777's, we stopped taking delivery at 8.

I was kind of ok with it if it meant we wouldn't get hit as hard during a down turn but then when it did happen, we were bleeding money almost as fast as Everyone else.

Now, it has been said that we make 75% on every ticket we sell on a code share flight with almost 0% risk. If a catastrophic event causes passengers to stay home tomorrow or next week, we aren't in as much danger as we otherwise would be. That is a good thing in a way. I'd rather be doing the flying, but slightly more important than that, I'd love to have a job to continue earning a living.

I don't know what the right answer is. As a pilot, I want a huge fleet of 777's and A350's. As a stake holder (employee and profit sharing recipient), I'm ok with a huge network without the huge risk.

I know VA was kind of a mess when we bought our stake. Once they deploy their aircraft more effectively, maybe we will buy more heavies.

If I knew our jobs were more secure than our counterparts, I'd be ok with the current situation, but the reality is, if the downturn is significant, we will still be furloughing right alongside the others. Maybe just not as much.

I don't know where i was going with this comment. I guess, since I didn't win the powerball last night, I woke up needing to keep my job. ☹️

I actually didn't want to win $1.5 Billion. I think the headaches wouldn't be worth it. I just need 10-15 Million and I can afford to live comfortably and own a CJ4 to fly to Ft. Myers on weekends.

Anyone have $10 Million they don't need? Timbo? Scambo? I'll give you a ride in my CJ.

Jet needs help. Looks like Delta has started a trend.

Etihad in talks to up stake in Jet Airways to 49% - Plane 'n Simple

Seems that in general Indian based airlines are about as stable as Charlie Sheen. Maybe it's all that Tiger Blood.......Winning!

Um. For $10-$15M you could buy a Cessna T206H used and fly it and not go broke, maybe. The CJ4 I believe from what I read would in the real world and normal use put you out about $1M a year if you financed it, which you would. :D Sorry, you're pal FTB is adding insult to injury.

Timbo is from FL. Someone from FL won it. Could be Timbo. Timbo is an awesome dude. I just love that guy and everything he says and stands for.

Little known fact: Timbo is my uncle.

My rich uncle.

Uncle Timbo, you're my favorite uncle!!!

Well get over here and mow my lawn, then we can talk about your mother...:eek::D

Somebody in California won too. Scoop is a great guy. Sorry ftb, his basement might be better than yours. I didn't buy a ticket. So, I didn't win.

If I was a winner, I was going to buy Spaklair and run it into the ground, then get hired as a CEO somewhere else with golden parachutes, then get elected president by being against political correctness. Then I was going to get impeached because all the aides I hired were hot and required to work topless...security. All the foreign heads of state were going to love coming to the Oval Office.

Then some foundation was going to set up a library for me even though I only read hot rod magazines. And I'd make millions giving speeches extolling the virtues of good citizenship.

Looks like we are on a slow boat to China. I hope production balance is written with some teeth. The last JV settlement set a terrible precedent. Now we need every cent of profit sharing more than ever. China and India are supposed to be our growth focus in Asia. Looks like the only thing growing is the international partners and Deltas equity stakes in them. Profit sharing is the only way to get a piece of this lucrative expansion (if you can call it an expansion.) I just may not need that Chinese visa or that Mandarin Rosetta stone.

Delta Air Will Rely on Partnerships to Expand Routes in Asia - Bloomberg Business

GOL up next?

Gol Gains as Bradesco Sees 50% Rally in Potential Delta Takeover - Bloomberg Business

Knowing the international strategy now, the profit sharing needs to increase.


More Asia stuff.

http://www.thestreet.com/story/13429...expansion.html