Petition - HL 167 (1)

From: LLRodammer@aol.com

Date: 4/27/2013 4:50:31 PM

To: mark@pilotcommunication.net

Subject: Fwd: 4-23 news

 

MARK:

 JOHN LEY'S NEWSLETTER CONTAINS THE ARTICLE SUMARIZED BELOW. IT HAS  DELTA MANAGEMENT ON A PHONE CALL DISCUSSING HOW WELL DELTA IS DOING AND ALL THE MONEY AND BONUSES THAT ARE BEING GIVEN OUT TO EVERYONE.

 I DID NOT SEE THE RETIRED DELTA PILOTS MENTIONED ANYWHERE. THEY DID MENTION THAT THE DELTA BOD IS COMING OUT WITH A STORY IN MAY AS TO HOW ALL THE PROFITS WILL BE DEPLOYED. I HOPE THEY HAVE HEARD OUR REQUEST AND ARE IN THE PROCESS OF RIGHTING THIS WRONG. (SEE THE PART OUTLINED IN RED ********.)

I  HOPE AND PRAY THAT THE DELTA BOD DECIDES TO HELP THE RETIRED DELTA PILOTS. THEY ARE CERTAINLY WELL AWARE OF THEIR ONGOING SACRIFICE. BY DELTA'S OWN ADMISSION, THE PILOT'S SACRIFICE KEPT DELTA FROM GOING OUT OF BUSINESS. THIS WOULD BE THE TIME TO PAY BACK THE RETIRED DELTA PILOTS.

 AT THE TIME OF THE BANKRUPTCY, DELTA SAID IT HAD TO SHED THE DELTA PILOT'S PENSION PLAN TO BE ABLE TO GET FINANCING FOR IT'S PLANNED EMERGENCE FROM BANKRUPTCY. SHEDDING THE PLAN AND LETTING THE PBGC TAKE  OVER LIMITED PAYOUTS ENABLED DELTA TO AVOID ABOUT $2.5 BILLLION IN PAYMENTS NEEDED TO BRING THE PLAN TO FULL FUNDING.

"TERMINATION OF THE PENSION PLAN IS AMONG THE MOST DIFFICULT DECISIONS DELTA HAS HAD TO MAKE IN CONNECTION WITH OUR RESTRUCTURING PROCESS, AND WE TRULY REGRET THE IMPACT THIS HAS HAD ON YOU," DELTA SAID IN A LETTER TO THEIR 6,000 RETIRED PILOTS.

 

OBVIOUSLY, DELTA NOW HAS THE MONEY AND THE PILOTS HAVE ENDURED THIS SACRIFICE FOR NEARLY 100 MONTHS!!

 BEST,

 LARRY

  
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Delta Air Lines Management Discusses Q1 2013 Results - Earnings Call Transcript 

 Delta Air Lines (DAL) Q1, 2013 Earnings Call April 23, 2013 10:00 AM ET:

And with that, I will turn the call over to Richard.

Richard H. Anderson

Thanks, Jill. Good morning, and thank you, all, for joining us. We are pleased this morning to report a March quarter profit of $85 million. This is Delta's first March quarter profit since 2000 and tangible proof that we are successfully changing the global airline business model at Delta.

 We thank Delta people worldwide for all their work that went into achieving this great performance.

Our results include $20 million in profit sharing expense for the quarter, and this marks the first time we have ever accrued profit sharing in the March quarter. We have consistently articulated our financial and operating strategy to our shareholders. It is important to note that Delta has also delivered year in, year out on our strategic commitments to make Delta the airline of choice for our shareholders.

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On the balance sheet, we ended the quarter just under $11 billion; in adjusted net debt, a $6 billion reduction in 3 years, and we will hit our adjusted net debt target of $10 billion later this year. These debt reduction efforts lowered interest expense for the quarter by $50 million. We generated $1.1 billion of operating cash flow in the quarter. With our growing cash flow and earnings, coupled with an improved balance sheet, we are preparing to move into the next phase of our capital deployment strategy. Our Board of Directors is guiding our long-term capital deployment strategy, and we expect to make an announcement in the month of May on our overall capital deployment strategy going forward in how we will return cash to shareholders. Please stay tuned.

MR. ANDERSON: ARE THE RETIRED DELTA PILOTS IN CONSIDERATION FOR ANY OF THIS DEPLOYED CAPITAL? WERE IT NOT FOR THEIR SACRIFICE, THERE WOULD NOT   ONLY BE NO CAPITAL TO DEPLOY! THERE WOULD BE NO DELTA AIRLINES! NOW THAT YOU HAVE THE MONEY, PLEASE DO THE RIGHT THING AND PAY YOUR RETIRED PILOTS WHAT THEY EARNED!
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We have a solid financial foundation, and combined with the momentum we've built from our initiatives and the favorable fuel and revenue dynamic, we are well positioned to generate improved earnings and margins for the June quarter, where we expect an operating margin of 9% to 11%. Given the strong March quarter actual performance and our June quarter operating margin forecast, we expect strong year-over-year profitability improvement for Delta in the full year of 2013.

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