Thu, Feb 12, 2004
Company Will Limit Boeing 777-200s
Delta Air Lines
announced Tuesday plans to limit the size of its Boeing 777-200
fleet. The airline said it intends to sell two Boeing 777-200
aircraft scheduled for delivery to Delta in 2005. The company also
intends either to acquire other Boeing aircraft in lieu of three
Boeing 777-200 aircraft scheduled for delivery in 2006 or to sell
these three Boeing 777-200 aircraft. Delta currently plans to
continue to operate the eight Boeing 777-200 aircraft in its
existing fleet and said it is pleased with the operational
performance of these aircraft.
Delta and Boeing have agreed to defer until the second half of
2005 delivery of two Boeing 777-200 aircraft originally scheduled
for delivery to Delta in the first half of 2005. Delta intends to
sell these two Boeing 777- 200 aircraft and has entered into an
agreement with an undisclosed party to assist in the sale. Delta
expects that such a sale, if accomplished, would reduce its capital
spending requirements by approximately $300 million through
2005.
"Delta must continue to create a path to rebuild its balance
sheet and maintain effective cash flow management," said M. Michele
Burns, Delta's executive vice president and chief financial
officer. "Reducing major capital spending, such as purchasing
aircraft, is an essential way to contribute to this goal."
Delta also intends either to acquire other Boeing aircraft in
lieu of three Boeing 777-200 aircraft scheduled for delivery to
Delta in 2006 or to sell these three Boeing 777-200 aircraft. The
company has not yet identified which aircraft type it would acquire
in lieu of the Boeing 777-200s if that option is chosen.
Delta Air Lines is proud to celebrate its 75th anniversary in
2004. As the world's second largest airline in terms of passengers
carried and the leading U.S. carrier across the Atlantic, Delta
offers 7,664 flights each day to 497 destinations in 84 countries
on Delta, Song, Delta Shuttle, Delta Connection and Delta's
worldwide partners. Delta is a founding member of SkyTeam, a global
airline alliance that provides customers with extensive worldwide
destinations, flights and services. For more information, please
visit delta.com.
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