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Originally Posted by Relic01
(Post 598771)
I don't care how you cut it, this is a huge loss for anyone. Plus United fared a lot better this quarter than Delta which surprised me. Waiting to see how CAL does tomorrow. Southwest loss was minimal when compared to Delta. Tough market but Delta's burning through cash quickly. Looks like a repeat to me.
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Originally Posted by dragon
(Post 598699)
Real good memo on the Delta Net that does a little bit of explaining, but from the Press Release I thought this was some good news.
“Delta’s operations generated more than $600 million in cash during the quarter, reflecting our employees’ continued focus on liquidity preservation, productivity improvements, and achieving our targeted synergy benefits,” said Hank Halter, chief financial officer. “Despite a decline in our expected revenue outlook, we continue to project a profit for the year, as well as grow our unrestricted liquidity to more than $6 billion by the end of the year.” We reported unchanged liquidity of $5B this quarter - same as last quarter and project to have another $1B by the end of the year. If if he is only half right, that would be nice! Carl |
This is the second time in the past few days that I've seen our stock higher than SWA's ... pretty amazing.
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Originally Posted by Relic01
(Post 598771)
I don't care how you cut it, this is a huge loss for anyone. Plus United fared a lot better this quarter than Delta which surprised me. Waiting to see how CAL does tomorrow. Southwest loss was minimal when compared to Delta. Tough market but Delta's burning through cash quickly. Looks like a repeat to me.
Originally Posted by Carl Spackler
(Post 599057)
You've nailed it Dragon. These are numbers WAY better than I would have guessed. The one thing you didn't mention is that they also retired long term debt with much of the $600 million in cash generated in the quarter. No wonder the stock shot up.
Carl Well there ya go Relic01. Did UAL pay down $500 million is debt with the cash generated? I think we both missed that.;) |
yeah.........I'm a little more concerned with THIS part of the release...
To improve profitability in its Cargo operation, Delta will retire its remaining fleet of 14 Boeing 747-200 aircraft Dec. 31 because of that fleet’s age and inefficiency. Delta is accelerating merger synergies as much as possible, including cross-fleeting, technology, and loyalty programs, among others. Delta also plans to remove 40 to 50 aircraft from the fleet this year, including a mix of DC-9, MD-88, B757-200, B767-300, B767-300ER, B747-400 aircraft, along with the B747-200 freighters. As previously announced, Delta will reduce international capacity by 10% starting in September. |
Originally Posted by dtfl
(Post 599079)
Delta also plans to remove 40 to 50 aircraft from the fleet this year, including a mix of DC-9, MD-88, B757-200, B767-300, B767-300ER, B747-400 aircraft, along with the B747-200 freighters. As previously announced, Delta will reduce international capacity by 10% starting in September.
So - remember the market wants to see capacity reductions right now and this press release says that. But - with those aircraft additions, it's not a net 40-50 loss. Also, I could see when the yields come back up Delta will bring planes back fast - along with a press release saying that they are adding aircraft to cover a growth in flying. |
Originally Posted by iaflyer
(Post 599099)
Interesting that they only talked about removing aircraft from the fleet - remember we're getting more B777s this year, and at least 3 MD-90s.
So - remember the market wants to see capacity reductions right now and this press release says that. But - with those aircraft additions, it's not a net 40-50 loss. Also, I could see when the yields come back up Delta will bring planes back fast - along with a press release saying that they are adding aircraft to cover a growth in flying. Correct. This is telling Wall St what they want to hear. The devil is in the detail. |
Originally Posted by dtfl
(Post 599079)
yeah.........I'm a little more concerned with THIS part of the release...
To improve profitability in its Cargo operation, Delta will retire its remaining fleet of 14 Boeing 747-200 aircraft Dec. 31 because of that fleet’s age and inefficiency. Delta is accelerating merger synergies as much as possible, including cross-fleeting, technology, and loyalty programs, among others. Delta also plans to remove 40 to 50 aircraft from the fleet this year, including a mix of DC-9, MD-88, B757-200, B767-300, B767-300ER, B747-400 aircraft, along with the B747-200 freighters. As previously announced, Delta will reduce international capacity by 10% starting in September. 747-400? Thats the first of that i've seen, is that a typo? Also the majority of that is already announced info and already accounted for. They are also swapping some airframes in the desert out with those being parked fwiw. as mentioned, its all in the details. |
Originally Posted by Superpilot92
(Post 599368)
747-400? Thats the first of that i've seen, is that a typo? Also the majority of that is already announced info and already accounted for. They are also swapping some airframes in the desert out with those being parked fwiw. as mentioned, its all in the details.
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Originally Posted by Seattlecfi
(Post 599371)
They announced last month that they were pulling 6 -400's. They are using 2 to replace the -200's for mil charters, and the other 4 will be swapped in and out for paint and mx spares.
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