gzsg

The estimate of free cash flow from the 8k is being intentionally withheld from the Delta pilots by our leadership.



It is right there in the 8k.



$4.5B to $5.5B.

What good is sharing the 70% of free cash flow to the shareholders (in the just released Chairman's letter) without the free cash flow numbers in billions from the 8k?



These numbers are STAGGERING.



Mentioning 70% of free cash flow is meaningless without the actual free cash flow numbers and they know that.



This single fact is the most critical fact EVER in the history of ALPA negotiating a pilot contract.



In my opinion they are leaving it out because selling concessions would be impossible if all 13,000 Delta pilots were made aware of this fact

Free Bird

How much were the buybacks worth last year? 6B?

notEnuf

For your reference:



^^^ don't overlook this note ^^^

zippinbye

The implication of nefarious omissions in yesterday's Chairman's Letter as related in this thread and others is a bit paranoid in my opinion. 70 percent is a firm target based on an estimated number. The letter included that figure as a parenthetical reference (brevity rules in parenthesis). It's much simpler to cite "70 percent" than "approximately $3.15 billion to $3.85 billion depending on actual free cash flow." Stating "70 percent of free cash flow" is hardly a camouflage for the actual dollar figures. Those are out there. As big boys and girls, we can do the math. Malone makes the free cash flow reference while running down a laundry list of circumstances that position us for "a contract heavily weighted in our favor." I'm not seeing any covert masking of the truth here. No intentional disrespect, I just think there are valid concerns available to create angst and focus attention toward. This is not one of them.

Hank Kingsley

Forensic accounting is a growing field, but something that shouldn't be tried at home.

gzsg

If you think our pilots are taking the time and effort to find this 8k and arrive at $3.15B to $3.85B, stop the next 20 pilots you see and ask them how much free cash flow Bastian will return to the shareholders this year.

I have done it many times. No winners.

Not one in the neighborhood.

This number is staggering. The line pilots need to see it.

Concessions are not warranted. Bastian Intentionally short staffed the air line and that is not our problem to solve by, yet again, working more. Spending more.time away from our families.

We have given enough for 2 lifetimes.

zippinbye

I agree with much of what you say and I stand firm on the same line regarding concessions. I find myself educating guys on the line all the time, often to my own surprise that they are not "up to speed." So sure, spreading the word, digging into details and deciphering corporate hogwash is a good thing. My only point was that Malone's employment "70%" vs. specific dollar amounts is not deceptive, at least in my view. Stock by backs are deceptive but play well in the press for Delta. They come at our detriment. I have zero doubt the NMB mediator's will see the generous redeployment of capital in contrast to management's claim that their lousy proposal is the best they can do. I'm confident the negotiating team will point to the same in arguing our position. I'm full-on "Team Orange," with more confidence in DALPA then ever. Of course the bar to exceed was pretty low, but I'm talking leaps and bounds more confident. And I'll be on the front line to call B.S. if I smell a rat in DALPA 's handling if our PWA quest. With that said, Malone's use of a percentage vs. $$ in the Chairman's Letter is of little consequence. But the stock buy backs are bogus all the way!