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DAL MEC talks about Mergers
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I dont really feel like having to register...anyway you could just give us the "jist" of it?
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Apparently the head of the DL pilot group says a merger is very close.
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I think this is the letter he's referring to:
January 9, 2008 Dear Fellow Pilot, The financial press continues to report almost daily on developments on the airline industry consolidation front. Industry analysts and self-proclaimed insiders casually predict the most likely pairings and even the timing of proposed events. While they do not always agree on details, Delta remains a common element in almost every scenario. Meanwhile, many airlines are warning that fourth-quarter results will be disappointing, citing decreased demand and increased fuel prices. The price of crude oil remains a primary concern, and just last week, it briefly broke the $100 per barrel mark for the first time before retreating to close just below $100. The Amex Airline Index, a financial index designed to measure the performance of the airline industry, remains anchored near its historic low. Just this week, the price of Delta stock closed below $12 per share for the first time since it was relisted on the New York Stock Exchange last May. While we have been hearing about "inevitable consolidation" for many years, it is becoming increasingly difficult to discount these facts and other recent events as simply more rhetoric. Consolidation may indeed be at our door. How we face its challenges will have a significant impact on our careers and profession for decades to come. This week, your elected representatives are meeting in special session in Atlanta. While the MEC will discuss a variety of issues, much of the meeting will focus on the fact that our company may soon be involved in some form of industry consolidation. The MEC remains fully engaged with all relevant issues, and I want to provide you with an update on your union’s efforts as we continue to prepare for different possibilities. In recent Chairman’s Letters, I reviewed some of our ongoing efforts. In November, the MEC unanimously voted to retain the Merger Fund. This fund, now with a balance of over one million dollars, was initially authorized and funded by the Delta pilots early in Delta’s bankruptcy while our company was extremely vulnerable and even facing the possibility of liquidation. While the bankruptcy threat is now behind us, the potential for a consolidating event is every bit as real. The MEC has also retained legal counsel specializing in the field of mergers and acquisitions. This counsel has joined our existing legal and financial advisors to provide us with an outstanding team of professionals, supplying your elected representatives with the guidance, advice, and support they will need to properly represent your interests. We continue to meet with the team on a regular basis to refine our strategy as the situation warrants. Finally, we continue to send a very clear and consistent message to all concerned parties, and that message is this: We do not oppose consolidation, and may even determine that consolidation is desirable. But as I wrote to you last month: The kind of consolidation that the Delta pilots might support is one that will produce an even stronger and growing airline that will vigorously and successfully compete in the international marketplace for years to come, will adequately reward the pilots for their participation as stakeholders in the transaction, and will provide the necessary platform for long-term growth in pilot earnings and career progression. Nothing less can justify a change in the status quo. Any attempt at consolidation will fail without the active involvement and support of the pilots from the earliest formative stages of the effort. Any consolidated company must provide meaningful protections and added value for the Delta pilots. Without those critical components in place, we will not support a consolidation attempt, and the attempt, like virtually every other airline consolidation attempt over the past two decades, will fail. Management and the financial community must accept the fact that after the sacrifices we made to save our company, we will not be bystanders to career altering events. We are relevant, and we will assert that relevance. With that in mind, I want to tell you about your MEC’s plans over the next few weeks as we continue to mobilize for various contingencies. I have reactivated the Strike Preparedness Committee (SPC). The SPC is the tactical arm of the Delta MEC. While the traditional objective of the SPC has been to prepare for and, if necessary, execute a strike against Delta Air Lines, ensuring that not a single Delta jet will fly in the event of failed negotiations under the Railway Labor Act, the committee has demonstrated that they are capable of much more. In the past two years, the SPC has demonstrated the capability to react quickly and precisely to carry out short-notice operations in support of the Delta MEC. They have organized picketing efforts not only of airports but also of corporate events and Wall Street. They have supported lobbying efforts on Capitol Hill including those to successfully kill the US Airways hostile takeover attempt of Delta Air Lines. They have embraced the technology necessary to create a virtual strike center in very short order at the location of our choice. Conversely, the flexible nature of the SPC will also allow your MEC to task them in support of a consolidation effort—but if and only if it is the right consolidation, a merger opportunity that provides the Delta pilots with the protections and equity we have communicated so clearly and unambiguously from the outset. In concert with the mobilization of the SPC, later this week, the Delta MEC Strike Operations Center will open just a short distance from Atlanta’s Hartsfield-Jackson International Airport. This physical location will help to provide the infrastructure in the event the MEC deems it necessary to call you to action. Also at this week’s MEC meeting, your MEC will elect a three-member Merger Committee. While we have an extremely talented and dedicated committee already in place, the Merger Committee is one of only two MEC committees (the other being the Negotiating Committee) that is elected by the MEC. Since the MEC has had some turnover due to regular election cycles, it is prudent to ensure that the Merger Committee in place is reflective of the desires of the current MEC. The Pilot-to-Pilot Committee is being reconstituted as a means of two-way communication between Delta’s line pilots and their elected representatives. Finally, the MEC has scheduled a "State of the Union" rally on Wednesday, January 23 at 10http://forums.flightinfo.com/images/smilies/redface.gif0 a.m. at the Georgia International Convention Center. We are operating in a very dynamic environment. Consequently, a precise agenda will depend on what events, if any, occur between now and the time of the rally. In general terms, the rally will provide an overview of your union’s recent efforts with an emphasis on the consolidation related activity that has dominated the industry’s financial press and how you can participate to craft our collective future. You will receive more details in the near future. Please make every effort to attend. Since Delta entered bankruptcy in September, 2005, the ride has often been turbulent and as we enter the New Year, the course ahead appears no less arduous. You are extremely well represented by the pilots you elected to serve, but their best efforts cannot succeed without your continued support and resolve. Please continue to stay informed, and be willing to answer the call to action, whenever and in whatever form that call might come. Fraternally, Lee Moak, Chairman Delta MEC |
Originally Posted by johnso29
(Post 296296)
Apparently the head of the DL pilot group says a merger is very close.
UPS put out a memo as well along the same lines CHICAGO, Jan 9 (Reuters) - United Parcel Service (UPS.N: Quote, Profile, Research) said on Wednesday it plans to significantly increase its debt as part of revamping its capital structure. The package delivery company said it had raised the target debt ratio for its balance sheet to a range of between 50 percent to 60 percent. That ratio, the company said, represents the relationship between funds from operations and total debt. Previously, UPS said, the company had no stated metric but it acknowledged that the new level was "higher" than it had historically run. UPS, based in Atlanta, Georgia, said the change would allow it to make increased investments in the business, pursue acquisitions and undertake larger share repurchases. (Reporting by James B. Kelleher) |
HMMMMM !! Merger of DAL & UPS? Think of the possibilities. Combi a/c. Pax by day and boxes by night. LOL
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Whether a merger goes forward or not, I think the DAL MEC would be stupid not to put these kind of measures in place. It is allways good to be prepared and always best to be on the BUYING side of a deal.
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Originally Posted by JetFlyer06
(Post 296307)
We do not oppose consolidation, and may even determine that consolidation is desirable. But as I wrote to you last month:
The kind of consolidation that the Delta pilots might support is one that will produce an even stronger and growing airline that will vigorously and successfully compete in the international marketplace for years to come, will adequately reward the pilots for their participation as stakeholders in the transaction, and will provide the necessary platform for long-term growth in pilot earnings and career progression. Nothing less can justify a change in the status quo. |
Should I be going to my NWA class date?:eek:
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Lets see. My calculations foresee 1600+ furloughs. 115 dc 9's parked at 7 crews/ac. Thats called synergy. Bye bye ATL. In comes LUV. Let the show begin.
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Originally Posted by hiflyer
(Post 296416)
Lets see. My calculations foresee 1600+ furloughs. 115 dc 9's parked at 7 crews/ac. Thats called synergy. Bye bye ATL. In comes LUV. Let the show begin.
That is one of the dumbest posts I've ever read on this forum. |
Originally Posted by KKKBTAXI
(Post 296404)
Should I be going to my NWA class date?:eek:
On the other hand, I probably will quit Delta if this happens. |
Originally Posted by Bucking Bar
(Post 296454)
On the other hand, I probably will quit Delta if this happens.
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Originally Posted by Bucking Bar
(Post 296454)
Sure, if they merge you can hold something at Delta that you could not hold in ten years at NWA.
On the other hand, I probably will quit Delta if this happens. |
While I agree some reduction in flying, and a reduction in a/c would occur subsequent to a merger, I don't see DAL parking all those planes...necessarily.
I'm pretty sure DAL, and all the majors are operating with pretty high pax loads. Maybe that's what your LUV comment was about? Because all the people who fly daily on NWA would have to fly on something. Are those people going to just up and say "oh well, NWA doesn't exist, so I'm going to drive." Probably not. There are also plenty of biz travelers and corporations based in DTW/CVG/MSP who will continue to use whatever int'l departures go out of their city...at pretty much whatever cost. Lots of those Fortune 500 companies have reps whose sole purpose is to lobby for rates and routes out of their hq city. Everyone I know who has Skyteam miles through NWA will follow that carrot wherever it goes, primarily b/c of all the points they have, which would most likely be honored by DAL as an alliance member (if it's NWA, not UAL). Which is another reason NWA is prob a better target than UAl from a marketing/pax loyalty perspective. If anything, I'd think the potential increase in the post-merger company's oligarchy over flying out of the eastern midwest and southeast would give them a greater ability to pass on fuel costs to pax and better hedge their fuel costs (buy twice as much, you will get a better deal, even if it's a tiny difference). Yeah, LUV could step in and mess with that dominance, but not on international routes, and not on cities they don't fly into/out of. Does DALs contract prevent them from trying to pull some bs post-merger such as running NWA's DC-9 routes with Compass Embraers and Mesaba 900s??? I'll bet their managment would drool at that idea. That would be something that would screw NWA pilots...would scope stand up from NWA's contract in that situation to protect that from happening??? BTW...this is all 100% hypothetical...no one even knows if anyone is merging with anyone. |
Originally Posted by JetFlyer06
(Post 296307)
Conversely, the flexible nature of the SPC will also allow your MEC to task them in support of a consolidation effort—but if and only if it is the right consolidation, a merger opportunity that provides the Delta pilots with the protections and equity we have communicated so clearly and unambiguously from the outset. Fraternally, Lee Moak, Chairman Delta MEC |
Originally Posted by RockyBoy
(Post 296483)
At first glance, newhire DAL guys will end up coming out very good in the long run with the combined list.
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Originally Posted by iaflyer
(Post 296472)
Just curious - why?
Delta was a first choice amongst other choices. NWA would be a distant second to SkyWest, or Republic, if I were looking for a job. Just the rumor of NWA had me updating my logs, calling my corporate contacts and manufacturer's CPO's. If Delta and NWA get together; Somebody...start inflating the rat. |
Originally Posted by KKKBTAXI
(Post 296493)
To any DAL pilots out there...In your opionion what would you consider to be the "right consolidation" that you would be in support of?
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Originally Posted by RockyBoy
(Post 296483)
I think you were hired recently at DAL. If you were one of the early 2007 hires then you will retire very well with a merged DAL/NWA seniority list. At first glance, newhire DAL guys will end up coming out very good in the long run with the combined list. Why would you leave a merged company that will be the biggest airline in the world if you can retire in the top 100 or so?
Refer to the other thread about NWA second year. |
Originally Posted by Bucking Bar
(Post 296527)
The average DL new hire was 37 this year. Other than a couple of 26 year olds, none are going to retire in the top 100.
Refer to the other thread about NWA second year. |
Originally Posted by 80ktsClamp
(Post 296426)
That is one of the dumbest posts I've ever read on this forum.
1. The reason you merge (notice I did not say takeover, this will be a merger of equals) is to create synergies that do not already exist. The belief is that their is over-capacity. Too many low fares out in the system to fill up all the seats, hence over-capacity. Draw down capacity and hope the LCC's do not backfill and raise prices; supply vs demand. 2. To accomplish above, right-size and rationalize fleet. 115 old DC 9's flying around does not make sense with regard to above. Besides, Compass and DCI can fill in the DC 9's if needed when the industry cycle changes. 3. ATL will be right-sized. No need for a fortress hub when MSP is very lucrative and provides the int'l reach DAL has been looking for pre-merger. LUV has stated publicly that they are interested in divestitures post consolidation. The anti-trust dept may require some divestitures for their approval of the deal. 4. DAL has not hired a CFO. Isn't the president E. Bastian pulling double duty? The new Flt. Ops. guy at DAL is former NWA. Has R. Anderson actually relocated to ATL? The point is, this has been in the making, these guys are going back to MSP to run the show. ATL will be the ops center, HQ will be in MSP (just a guess). US Airways had already determined ATL would go and the HQ would be in PHX. ATL is a great hub and will continue to be for the new carrier, but it does not have to be protected the way it is now. Hence, new carriers will find a home in ATL. Maybe you could offer an educated point-of-view before dismissing statements the way you do. Or do you not have an opinion? Check out the fleet composition of the two airlines and you will see that in order to maximize the synergy of the deal, the fleet will have to be rationalized to a more common mix. Also, as posted here on the forum, R. Anderson specifically stated in his town hall appearance that DAL would not take orders for the 787. The reason, loading up the balance sheet and being the lead on a new ac. He stated he has been in that situation before and wants to stay clear of being a launch customer for an unproven ac. It would seem logical that the 787 slots would be sold and traded for 777LR ac that are slated for delivery (according to the Boeing web-site) for Feb '08 and beyond. Just trying to connect the dots, nothing is hidden, all this info is available publicly and has been discussed publicly. |
Mergers are terrible things for all employee groups to go through. There would be reductions. The only winners are the largest share holders and upper management with golden parachutes. The Delta MEC has fired a warning salvo to let management know the "deal" won't happen without their approval. While it sounds good, a merger with another solvent carrier will be contentious, lengthy, and will more than likely boil down to a judge and an arbitrator.........and the age old question........will the senior guys sell out the junior guys. (Those that have survived a merger or two will understand).
The comment about LUV and ATL is the implication that DAL would have to divest a little to satisfy the DOJ. A few gates in ATL would do it......and you know the rest of the story. Buckle up! |
Originally Posted by JiffyLube
(Post 296494)
Why would you say that?? If DAL MEC has the same intentions as APA did. All DAL pilots on property at date of acquisition should be OK.
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Originally Posted by Bucking Bar
(Post 296514)
Take the numbers at face value and NWA is flying fewer RSM's with a lower load factor.
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Originally Posted by hiflyer
(Post 296542)
Lets just stick with facts.
1. The reason you merge (notice I did not say takeover, this will be a merger of equals) is to create synergies that do not already exist. 2. To accomplish above, right-size and rationalize fleet. 115 old DC 9's flying around does not make sense with regard to above. Besides, Compass and DCI can fill in the DC 9's if needed when the industry cycle changes. 3. ATL will be right-sized. No need for a fortress hub when MSP is very lucrative and provides the int'l reach DAL has been looking for pre-merger. 4. DAL has not hired a CFO. Isn't the president E. Bastian pulling double duty? The new Flt. Ops. guy at DAL is former NWA. Has R. Anderson actually relocated to ATL? The point is, this has been in the making, these guys are going back to MSP to run the show. ATL will be the ops center, HQ will be in MSP (just a guess). Maybe you could offer an educated point-of-view before dismissing statements the way you do. Or do you not have an opinion? Check out the fleet composition of the two airlines and you will see that in order to maximize the synergy of the deal, the fleet will have to be rationalized to a more common mix. Just trying to connect the dots, nothing is hidden, all this info is available publicly and has been discussed publicly. 2. Great - outsource more flying. Is that why Delta is trying to reduce Connection flying by 15% this year, even to the point of parking their own jets at their Comair operation? 3. Yeah, the World's busiest airport in Atlanta has nothing on MSP. 4. No, Delta has not hired a President. Ed Bastian was the CFO. I agree the fleet makes no sense and the merger makes no sense. In about 60 days I hope the Board realizes this cash out plan has no legs. |
Originally Posted by reddog25
(Post 296550)
Huhhh??? NWA has the highest load factors, DALs is one of the lowest among majors. Great if you are trying to pass ride, not if you are trying to make money..........
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Originally Posted by hiflyer
(Post 296542)
Lets just stick with facts instead of insults.
1. The reason you merge (notice I did not say takeover, this will be a merger of equals) is to create synergies that do not already exist. The belief is that their is over-capacity. Too many low fares out in the system to fill up all the seats, hence over-capacity. Draw down capacity and hope the LCC's do not backfill and raise prices; supply vs demand. 2. To accomplish above, right-size and rationalize fleet. 115 old DC 9's flying around does not make sense with regard to above. Besides, Compass and DCI can fill in the DC 9's if needed when the industry cycle changes. 3. ATL will be right-sized. No need for a fortress hub when MSP is very lucrative and provides the int'l reach DAL has been looking for pre-merger. LUV has stated publicly that they are interested in divestitures post consolidation. The anti-trust dept may require some divestitures for their approval of the deal. 4. DAL has not hired a CFO. Isn't the president E. Bastian pulling double duty? The new Flt. Ops. guy at DAL is former NWA. Has R. Anderson actually relocated to ATL? The point is, this has been in the making, these guys are going back to MSP to run the show. ATL will be the ops center, HQ will be in MSP (just a guess). US Airways had already determined ATL would go and the HQ would be in PHX. ATL is a great hub and will continue to be for the new carrier, but it does not have to be protected the way it is now. Hence, new carriers will find a home in ATL. Maybe you could offer an educated point-of-view before dismissing statements the way you do. Or do you not have an opinion? Check out the fleet composition of the two airlines and you will see that in order to maximize the synergy of the deal, the fleet will have to be rationalized to a more common mix. Also, as posted here on the forum, R. Anderson specifically stated in his town hall appearance that DAL would not take orders for the 787. The reason, loading up the balance sheet and being the lead on a new ac. He stated he has been in that situation before and wants to stay clear of being a launch customer for an unproven ac. It would seem logical that the 787 slots would be sold and traded for 777LR ac that are slated for delivery (according to the Boeing web-site) for Feb '08 and beyond. Just trying to connect the dots, nothing is hidden, all this info is available publicly and has been discussed publicly. "OVERRULED!":D First to get the reference won't be furloughed.:D You make for fine reading but no way is ATL right sized to move international ops to MSP! Are you from there and wishfully thinking? I think it was your "bye bye ATL" comment that engendered the dismissive responses. Anywho, I think CVG and MEM would be in more jeopardy. |
Here's my reasoning:
Northwest's traffic fell 1.7 percent last month to 6.27 billion revenue passenger miles from 6.38 billion a year earlier. Its results were weighed down by a 6.1 percent drop in domestic traffic, partially offset by a 1 percent increase in overseas traffic. Northwest posted similar trends over the full fourth-quarter. During that period, its traffic dropped 0.7 percent to 18.87 billion revenue passenger miles from 19 billion. It trimmed capacity 1.5 percent to 22.88 billion available seat miles from 23.24 billion. Occupancy rose to 82.5 percent from 81.8 percent. ATLANTA (AP) -- Delta Air Lines Inc. said Friday its traffic rose 3 percent in December, with much of the growth coming from increased routes abroad. December traffic rose to 9.72 billion revenue passenger miles, up from 9.44 billion during the same period of 2006. A revenue passenger mile is a measurement of airline performance that represents one paying passenger flown one mile. The increase came amid as capacity increased 3.1 percent. Delta flew 12.5 billion available seat miles in December, compared with 12.12 billion during the same month a year earlier. "In December, consolidated unit revenues showed solid year over year improvement," Glen Hauenstein, executive vice president for network planning and revenue management, said in a statement. For the full year, Delta said total traffic rose 5.1 percent to 122.06 billion revenue passenger miles, from 116.13 billion a year earlier. Capacity increased 2.5 percent to 151.76 billion in 2007, from 147.99 billion the year before, while occupancy rose 1.9 percentage points to 80.4 percent. |
Originally Posted by Bucking Bar
(Post 296554)
1. The "synergies" between NWA and DL could be done through their current codeshare at arm's length.
2. Great - outsource more flying. Is that why Delta is trying to reduce Connection flying by 15% this year, even to the point of parking their own jets at their Comair operation? 3. Yeah, the World's busiest airport in Atlanta has nothing on MSP. 4. No, Delta has not hired a President. Ed Bastian was the CFO. I agree the fleet makes no sense and the merger makes no sense. In about 60 days I hope the Board realizes this cash out plan has no legs. 2. Never said outsource, it already exists, the comment referred to the reduction in near 100 seat ac. Most likely any replacement for lost DC9 flying, if needed, would most likely go to the 76 seat operators. 3.Never said anything about ATL not being a viable hub. Only that DAL protects the fortress hub from other airlines infiltrating their bread and butter. ORD has two major players and is second on the list as the "World's" busiest. Don't you think two or more major players can and will exist at ATL in the near future. Why is DAL utilizing mainline gates for RJ's. My bet is, not enough utilization. ATL airport wants some gates back and DAL said nope we need them for our RJ's. 4. I believe from news sources that E. Bastian was promoted to President post BK and continues his role as CFO. No replacement was hired. Hence my statement, this is a chess match, the pieces have been moving all along and now we can see the reason s why. Checkmate |
Originally Posted by Deez340
(Post 296556)
"That was a lucid, intelligent, well thought-out objection."
"OVERRULED!":D First to get the reference won't be furloughed.:D You make for fine reading but no way is ATL right sized to move international ops to MSP! Are you from there and wishfully thinking? I think it was your "bye bye ATL" comment that engendered the dismissive responses. Anywho, I think CVG and MEM would be in more jeopardy. |
Originally Posted by hiflyer
(Post 296570)
Yep, sorry for fueling the fire. Had to get the show started. Never said move Int'l ops to MSP. My comment was in reference to the fact that MSP and DET can hold their own as far as Int'l ops is concerned. Besides, NWA has route authority to China from MSP and DET, can't just pick it up and move it to ATL. NWA isn't a small player that has nothing to bring to the table. Besides, the constant reference to ATL as the busiest hub is in reference to departures. According to records, DCI represents more departures than mainline. So, are all those RJ's needed to feed one hub when there are other hubs that are lucrative to the new entity? If so, then ATL will be "right-sized". Sorry for the bye bye comment. I'll be more sensitive for the audience in the future.
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Originally Posted by hiflyer
(Post 296564)
3.Never said anything about ATL not being a viable hub. Only that DAL protects the fortress hub from other airlines infiltrating their bread and butter. ORD has two major players and is second on the list as the "World's" busiest. Don't you think two or more major players can and will exist at ATL in the near future. Why is DAL utilizing mainline gates for RJ's. My bet is, not enough utilization. ATL airport wants some gates back and DAL said nope we need them for our RJ's.
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Originally Posted by hiflyer
(Post 296564)
I believe from news sources that E. Bastian was promoted to President post BK and continues his role as CFO. No replacement was hired. Besides, I think overall the government will not allow any combination of the Legacy's to join, however, I can see Alaska, Jet Blue, Frontier, Midwest being consumed by the Legacy's. |
Originally Posted by Bucking Bar
(Post 296524)
United Parcel Service, or FedEx
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Originally Posted by Deez340
(Post 296590)
No problem. A couple of corrections though. I believe ATL has been the "busiest airport" for a few years now by any metric, not just departures, and DAL has China authority out of ATL as well. I think it's to be a 777lr run. While my hopes are admittedly and blatantly self-interested, I hope management's statements that any consolidation would only occur with Delta as the buyer, headquartered in ATL, and be called Delta turn out to be accurate.
It will be interesting to see if R. Anderson holds to his promise with regard to DAL being the acquirer, keeps the name Delta Air Lines and is HQ in ATL. That was his promise to several state reps. in GA especially Isakson. He stated unequivocally that DAL would remain in ATL and also be named Delta Air Lines. Isakson went so far as to ask RA to look him in the eye and tell him. Found all this info on the net. All there for anyone to read. Keep the above in mind, may be telling of what kind of character RA exhibits, especially since DALPA wants contract improvements and equity as part of their approval for the "right" transaction. I believe any transaction that puts money in their pockets, especially the more senior folks, will be the "right" transaction. Good luck to all of you, NWA and DAL. It will be interesting watching from the sidelines. I am going to keep track of things said and promises made. Lets see how this plays out and who kept their word. |
Why do all of you guys think that if they do merge that they will close cvg?? To my way of thinking they would keep that open due to the fact that the it is one of the most expensive places to fly out of as a passenger plus it's another airport that delta has complete control over, but I'm just a lowly pilot so what do I know
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I will retire in the top 30 either way.
Merging with any one makes me consider my career plans at DAL as well. Even if the seniority merge was done correctly. (Ratio to the 07 hires and DOH for us newbies) it still would be a difficult place to work. |
I find it rather interesting that a few years back when CAL and NWA were talking, the justice department shut the talks down rather quickly saying that it would create too large of a carrier. Now they seem to have no problem creating the largest in the world.................:rolleyes::confused:
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Times change. The fact is that any merging on Legacies will have many hurdles to get over to win approval. That does not mean that they will not try.
Each execuitive branch knows that they are being forced in to a decision from multiple sources. ( Fuel, Bush leaving office, and the board members). With all of this external pressure, it is only inevitable that someone tries. DAL will probably be the first that will announce, due to the fact that their board is stacked with people that want them to merge. IE hedge fund managers. I am sure that DAL has been fighting this tooth and nail, but at the end of the day they are squirrel's chasing a nut like us. They have people that they need to answer to as well. |
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