Delta Low On Cash | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Most Recent Daily Airborne

Airborne On ANN

Airborne On YouTube/Hi-Def/Mac Friendly

Monday

Airborne 01.26.15

Airborne 01.26.15

Tuesday

Airborne 01.27.15

Airborne 01.27.15

Wednesday

Airborne 01.28.15

Airborne 01.28.15

Thursday

Airborne 01.29.15

Airborne 01.29.15

Friday

Airborne 01.30.15

Airborne 01.30.15

Sun, Aug 21, 2005

Delta Low On Cash

Concessions Waiting In The Wings?

Delta Airlines warned pilots Friday that their cash levels have dropped below a level that could lead to more concessions from the pilots. Delta pilots ratified a concession package last November to save the company up to $1 billion a year.

"This is not a surprise action. We have given the Air Line Pilots Association a heads up to let them know that Delta's financial situation has fallen short of earlier assumptions," said company spokesman Andy McDill.

In the concession package, Delta agreed that it wouldn't seek additional concessions as long as they kept a certain level of cash available. The pilots union said the memo from Delta only said that 'the company's liquidity has fallen below the threshold liquidity level.'

Although the exact level was not disclosed, the company reported last month that it had $1.7 billion in cash and short-term investments available.

Capt. John Malone, chairman of Delta's ALPA union group, said that the labor contract remains unchanged for now.

"We are doing everything possible to increase our financial situation," said McDill.

Delta has lost almost $10 billion in the last few years.

FMI: www.delta.com

Advertisement

More News

Klyde Morris 01.30.15

Never Feel Guilty About That Which You Cannot Change, Klyde FMI: www.klydemorris.com>[...]

Airborne 01.29.15: Meridian Upgraded, Solar Impulse Readies, Pipistrel's Wattsup

Also: Allegiant Strike?, API Partner Profile--AEA, VP-26's Last Orion, Orbital Merger, FAA Penalizes, Airbus Helis Piper Aircraft has introduced its newest top-of-the-line M-Class >[...]

Airborne 01.28.15: AMA Steps Up, AirAsia Stall Warnings, Obama Wants Carbon Cuts

Also: Ridiculous Arkansas Regs Proposed, Tecnam Juggernaut, New EC135 T2+ Training Helo, NBAA Joins 'Know Before You Fly', Wipaire Grand Opening, AirVenture SkyDive Record As the m>[...]

Airborne 01.29.15: Meridian Upgraded, Solar Impulse Readies, Pipistrel's Wattsup

Also: Allegiant Strike?, API Partner Profile--AEA, VP-26's Last Orion, Orbital Merger, FAA Penalizes, Airbus Helis Piper Aircraft has introduced its newest top-of-the-line M-Class >[...]

ANN's Daily Aero-Linx (01.30.15)

C133 Cargomaster Project It seems as if there's a website out there for almost any type of airplane that's ever flown, and while roaming around the Internet, we came across this on>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC