Delta Takes One In The Wallet | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.10.24

Airborne-NextGen-06.11.24

 Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24

Airborne-Unlimited-06.14.24

Thu, Jul 15, 2004

Delta Takes One In The Wallet

Number Three Airline To Post $1.65 Billion Losses

Attention Delta stockholders, this may sting a little. You may feel a little pressure. Those of you with weak hearts might want to stand back...

The nation's number three airline this week announced it will write off $1.65 billion. Worse, the company says it will no longer recognize income tax benefits taken in the past, a move that's sure to increase its losses.

"As we have stated on numerous occasions in recent weeks, the need to address our uncompetitive cost structure and related financial issues grows more urgent with each passing day," said CFO Mike Palumbo.

Slammed by higher-than-expected fuel costs and pilots who refuse to make major pay and benefit concessions, Delta is also in the midst of a wave of pilot retirements. Some 300 pilots -- many of them younger than the mandatory retirement age of 60 -- hung up their wings last month.

Delta has lost more than $3 billion in the past three years. It's laid off 16,000 workers system wide.

FMI: www.delta.com

Advertisement

More News

ANN FAQ: Submit a News Story!

Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]

Aero-News: Quote of the Day (06.12.24)

“The legislation now includes a task force with industry representation ensuring that we have a seat at the table and our voice will be heard as conversations about the futur>[...]

ANN's Daily Aero-Linx (06.12.24)

Aero Linx: Waco Museum The WACO Historical Society, in addition to preserving aviation's past, is also dedicated and actively works to nurture aviation's future through its Learnin>[...]

ANN's Daily Aero-Term (06.12.24): Adcock Range

Adcock Range National low-frequency radio navigation system (c.1930-c.1950) replaced by an omnirange (VOR) system. It consisted of four segmented quadrants broadcasting Morse Code >[...]

Airborne Affordable Flyers 06.06.24: 200th ALTO, Rotax SB, Risen 916iSV

Also: uAvionix AV-Link, Does Simming Make Better Pilots?, World Games, AMA National Fun Fly Czech sportplane manufacturer Direct Fly has finished delivering its 200th ALTO NG, the >[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 06.14.24: Air Race Classic, Bong's P-38, Powered Lift Regs

Airborne-Flight Training 06.13.24: Abandoned Students, Nolinor C172, Simming

Airborne 06.12.24: Stupid Heli Trix, Seaplane v Boat, Aussie NIMBY

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC