Delta presented at Raymond James today.

The first round of stock buyback will be completed in June, 2 years early. Looks like they will announce a second buyback in June as well.

And.....

we got a 3% pay increase and a 33% reduction in profit sharing.

DALPA continues to refuse to mention the over $15 billion and counting we have made in life changing concessions.

Is it so much to ask for the Delta pilots to snap up to their 2004 pay rates prior to another stock repurchase?

Is it too much to ask for DALPA to stop playing dead?

"We are also committed to returning more cash to shareholders overtime, when we announced in May the initiation or depending on your perspective reestablishment of a dividend that hadn’t been paid in over a decade. We were committed to an annual return of cash with a $500 million buyback program spread over three years of about $350 million to $375 million a year. We have actually kind of doubled that pace.
So through the first six months of that program, we returned $350 million of cash to shareholders. And we announced at our Investor Day that we expect to complete that $500 million buyback program by our shareholders meeting this year, putting us on a trajectory of actually returning about $700 million of cash on a run rate basis to shareholders.
We do expect to announce our next repurchase authorization and an update to our dividend policy by the time of our annual meeting in June and we are actively having conversations with the board between now and then to determine what the right course of action to take, but stay tuned there is more on that to come."

 

Nothing new here. The BOD approved $500M in stock buy back some time ago. I seriously scratch my head over it because with 850 M shares outstanding and a $34 stock price, this does nothing to pump up the stock price... only about a 1% return. Paying down debt would produce a much better return, but I only went to a state school, so these high finance maneuvers are pretty much over my head. And I am pretty sure that $400 million could be leveraged to buy a few big airplanes with which to generate even more revenue. *sigh*

Of course none of this has anything to do with DALPA, but don't let that get in the way of a good rant.

 

So you think we should continue to work for chapter 11 pay rates while management chooses to buy back stock to enrich themselves? Does the stock bought back provide a conduit for management to reward themselves without issuing shares?

You have yours, I get it.

 

It has nothing to do with "having mine". And I am pretty sure we are doing a little better than Chapter 11 rates.

 

Don't bother with gzsg he is a DPA insider trying to sell his wares. Evidently he s not getting enough traction on the other boared where he posted the same thing.

 

Should have bought a couple thousand shares of stock a few years ago when it was $5.

 

Shouldn't have sold mine at $13 when Financial Engines said so.....

 

So I'm not the only dumbass Sold mine at 16.

 

I bought some back at $26

 

My financial advisors told me to get rid of it at 12. "too much risk."

Sure glad I didn't take that advice! That's been by far my best performing stock...