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Old August 6th, 2009, 09:20 PM   #501
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Delta traffic falls in July, the 7th-straight month of declines, as it cut capacity further
6 August 2009

ATLANTA (AP) - Delta Air Lines Inc., the world's largest airline, said Thursday its traffic fell 2.5 percent last month, despite continuing to cut capacity to account for lower demand.

Paying passengers flew a total of 19.52 billion miles in July, compared with 20.03 billion miles a year ago. It was the seventh-consecutive month in which traffic has fallen.

Delta cut capacity systemwide by 3.6 percent. As passenger demand has plummeted, airlines have reduced capacity by scaling back fleets or scheduling smaller planes on less-trafficked routes.

Its rate of occupancy, or how full its planes are, rose by 1 percentage point to 87.7 percent.

For the first seven months of the year, traffic was down 7.7 percent. Capacity so far this year has been cut by 6.2 percent, while Delta's occupancy rate has fallen to 81.4 percent from 82.7 percent.

Delta shares lost 1 cent to reach $7.31 in afternoon trading.
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Old August 8th, 2009, 10:56 AM   #502
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August 7, 2009 Friday 8:30 PM GMT
Delta will cut more management jobs
By HARRY R. WEBER, AP Airlines Writer

Delta Air Lines Inc., the world's biggest airline operator, is planning to cut more management and administrative jobs, but isn't saying how many, according to a recorded message and a memo from top executives.

Chief Executive Richard Anderson said in a recorded message to employees Thursday that Delta has seen its revenue stream decline by billions of dollars because of the weak economy and the drop-off in demand for air travel.

Atlanta-based Delta is cutting more capacity and has previously hinted that more frontline employee positions may have to be cut.

Anderson said Delta needs to be more aggressive at saving money in its administrative and management budgets.

"We will accomplish this through budget reductions, including vendors and professional services," Anderson and President Ed Bastian said in a memo Thursday to officers and directors that also was circulated internally to other employees. "Unfortunately, because of the severity of this economic downturn, we also must eliminate additional salaried positions beyond the management and administrative jobs already reduced over the last 18 months."

The executives said the planned action, though painful, will help the airline "maintain our competitive position as a strong, viable airline for our employees, shareowners and customers."

Delta, including its subsidiaries, had 82,968 full-time employees as of June 30, according to a recent regulatory filing. The total includes employees from Delta and Northwest Airlines and regional carriers Mesaba, Compass and Comair.

Last month, Delta announced a loss of $257 million for the second quarter.

Delta said the global recession, exacerbated by the impact of the swine flu virus, has caused the company's revenue to decline more than $3 billion for the first six months of the year, translating to more than $40,000 in lost revenue per employee.

"We do not expect our revenues to significantly improve through the remainder of the year," Anderson and Bastian said in their memo.

Delta plans to cut international capacity by 15 percent starting in September. Delta has also said it will reduce system capacity by 10 percent this year compared to 2008.

Capacity, as measured in available seat miles, can be reduced in a number of ways, including removing planes from the air, using smaller planes on some routes and reducing the number of frequencies to certain destinations.

Shares of Delta rose 12 cents to close at $7.41 in Friday trading.
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Old August 9th, 2009, 09:25 PM   #503
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DAMN DELTA...ALWAYS MAKING STORIES
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Old August 11th, 2009, 04:46 PM   #504
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They really need to get rid of those old gas-guzzling NWA MD jets!
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Old August 13th, 2009, 08:42 AM   #505
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Delta, US Airways in big NY, DC slot swap

CHICAGO, Aug 12 (Reuters) - Delta Air Lines Inc and US Airways Group Inc have agreed to a significant swap of takeoff and landing rights at New York LaGuardia and Washington Reagan National airports, the airlines said on Wednesday.

The unusually large deal has been in the works for some time and continues the efforts by US Airways to reorganize its route structure and potentially expand overseas.

Delta's objective is to enhance its New York operation as a destination for business travel and expand links to international flights.

"Really this is about getting the assets in the hands of airlines that can use them most efficiently," US Airways President Scott Kirby told Reuters.

U.S. antitrust and transportation regulators must sign off on the planned exchange of airport slots, which equal access for roundtrip flights.

Industry consultants knowledgeable about the deal said Justice Department officials would look closely at the plan for US Airways to boost operations at Reagan National, where it is already the dominant carrier.

The airlines would also have to convince Transportation Department regulators to end a recent ban on slot sales at LaGuardia.

The deal, the second of its kind involving big U.S. airlines two days, is structured as "two simultaneous asset sales" but no cash will be exchanged, the companies said.

Delta shares were up 3.3 percent at $7.25, while US Airways shares were up 4.5 percent at $3.04 in afternoon trade on the New York Stock Exchange.

The deal would transfer 125 pairs of slots from US Airways to Delta at LaGuardia. Those slots are currently used by US Airways Express.

US Airways has been criticized for underutilizing the space over the years by flying regional jets instead of larger planes. Delta plans to use bigger aircraft.

More efficient use of LaGuardia, notorious for congestion and delays, has long been a priority of transportation and aviation regulators.

In return from Delta, US Airways would receive 42 pairs of slots from Delta at Reagan National -- as well as the rights to expand to Sao Paulo and Tokyo.

US Airways said it expects to earn $75 million a year from the transaction.

Delta competes aggressively with Continental Airlines and JetBlue Airways in New York. Delta said it expects to more than double the number of nonstop destinations it serves from LaGuardia.

After the transaction, US Airways would provide nonstop service from Reagan to 15 new destinations a day. US Airways competes with United Airlines and Southwest Airlines at Baltimore. Southwest would likely enter Reagan National if its bid for bankrupt Frontier Airlines Holdings Inc.

Separately, AirTran Airways and Continental Airlines Inc will swap slots at New York-area and Washington airports.

AirTran will stop flying from New Jersey's Newark airport, giving its access to Continental. In return, Continental will exchange some of its slots at Reagan and LaGuardia.
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Old August 13th, 2009, 09:11 AM   #506
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Wow very interesting! It will be fun to watch what locations and what craft Delta plans to use in their expansion out of LGA. I wonder if Delta has considered terminal expansion at LGA as well.
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Old August 17th, 2009, 03:11 PM   #507
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I really wonder if La Guardia can handle the expansion!
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Old August 17th, 2009, 07:53 PM   #508
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Quote:
Originally Posted by hkskyline View Post
I really wonder if La Guardia can handle the expansion!
Very true I was in Delta's terminal at LGA last week and it was very crammed and most of the 10 gates had jets waiting.


In other news:.......

Quote:
Delta suspending Salt Lake City-to-Tokyo flights
Associated Press
SALT LAKE CITY - Delta Air Lines says it will suspend nonstop Salt Lake City-to-Tokyo flights because of diminished demand and fallout from the swine flu.

Delta spokesman Anthony Black says the airline will drop the route from Oct. 1 to May 14, when flights are set to resume, The Salt Lake Tribune reported on its Web site Wednesday.

Delta launched the nonstop flights in June every day except Tuesdays and Saturdays.

Delta CEO Richard Anderson has said the carrier has seen its revenue stream decline by billions of dollars because of the weak economy and the drop-off in demand for air travel. The airline previously announced it plans to cut international capacity by 15 percent starting in September.
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Old September 7th, 2009, 01:14 PM   #509
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Delta Air Lines traffic and capacity fall; both domestic and international travel down
4 September 2009

ATLANTA (AP) - Delta Air Lines Inc. said Friday its August traffic fell 2.2 percent on drops in both domestic and international travel.

Delta said it flew 18.73 billion revenue passenger miles, or one paying passenger flown one mile, in August, down from 19.15 billion in August 2008. The figure includes Delta, its Northwest subsidiary, as well as regional operations Comair, Mesaba, and Compass.

Capacity fell 3.2 percent to 21.64 billion available seat miles, from 22.34 billion a year ago. Load factor, or the percentage of seats filled, rose 0.9 percentage point to 86.6 percent.

Domestic traffic was down 1.3 percent to 11.14 billion revenue passenger miles, while international traffic fell 3.5 percent to 7.59 billion revenue passenger miles.

For the first eight months of the year, system-wide Delta traffic fell 6.9 percent to 130.27 billion revenue passenger miles, while capacity was down 5.8 percent to 158.66 billion available seat miles. Load factor fell 1 percentage point to 82.1 percent.

Delta shares rose 18 cents, or 2.5 percent, to $7.34 in afternoon trading.
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Old September 7th, 2009, 11:17 PM   #510
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Reagan National Airport is the airport favored by "Beltway" insiders.
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Old September 13th, 2009, 06:40 AM   #511
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Delta may invest up to 550 million dollars in JAL: report
12 September 2009
Agence France Presse

US carrier Delta Air Lines may invest up to 550 million dollars in cash-strapped Japan Airlines to make it the carrier's biggest shareholder, Japanese media reported Saturday.

Delta has told JAL of its interest in investing up to 50 billion yen in the Japanese carrier, the Nikkei business daily and public broadcaster NHK said.

Reports emerged Friday that JAL, Asia's biggest airline, was reported to have entered "full-scale" talks over capital aid of tens of billions of yen from Delta.

Such an investment would give the world's largest airline operator a stake of up to 11 percent in JAL, which is undergoing a government-supervised reorganisation, the Nikkei said.

But the newspaper also said a tie-up with Delta would be difficult because JAL belongs to the oneworld global airline alliance, for which Delta's rival American Airlines Inc. is the North American member.

JAL was also sounding out Air France-KLM Group, Europe's top airline, on expanding its alliance in deals that could dramatically alter the makeup of the global airline industry, Japan's Kyodo News has reported.

Delta and Air France-KLM are both part of SkyTeam, another global airline alliance.

JAL has secured loans from state-backed lenders and is due to present a management improvement plan to the government later this month.

Japan's transport ministry appears to support an investment by Delta.

"If JAL ties up with Delta and expands code-sharing, that would lead to higher efficiency in its international services," a high-ranking ministry official said, according to the Nikkei.

The Japanese airline is slashing its flight services as it braces for a second straight year in the red, hit by the global economic downturn and swine flu fears.

JAL lost more than one billion dollars in the April-June quarter and has announced more than 11,000 job cuts since 2005.

Kyodo News reported last month that it was considering cutting about 5,000 employees, or 10 percent of its group workforce, by March 2012.

Delta is also slashing flight capacity and reviewing staff needs in the face of the global recession.
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Old September 14th, 2009, 04:09 PM   #512
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Delta Air Lines says available cash will decline, discloses 2010 pension obligations
14 September 2009

ATLANTA (AP) - Delta Air Lines Inc., the world's biggest airline operator, says its available cash on hand will continue to fall by the end of the year as demand for air travel has been hit hard by the economic downturn.

The airline also says in a regulatory filing Monday that its 2010 funding requirement for its defined benefit pension plans, which have been frozen for future accruals, is estimated to increase by $450 million as compared to 2009. The increase in required funding is due primarily to the decline in the investment markets in 2008.

On the positive side, Delta says it expects its year-over-year revenue per available seat mile decline for the third quarter will be a slight improvement from the second-quarter year-over-year change.
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Old September 17th, 2009, 10:33 AM   #513
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Delta Air Lines plans $500M private debt offering
16 September 2009

ATLANTA (AP) - Delta Air Lines Inc. wants to give itself some more breathing room to deal with $904 million in debt that would come due after it receives a single operating certificate to fully integrate Northwest Airlines into its fold.

Delta said in a Securities and Exchange Commission filing on Wednesday that it will essentially be taking on new debt with a later maturity date to pay current debt that would be owed by Northwest once the FAA certificate is achieved. Delta, which acquired Northwest in October 2008, has said it expects to receive the single operating certificate by the end of this year.

Delta plans a private offering of $500 million in senior secured notes due 2014. It said it would use the proceeds from that offering, along with initial borrowings under new senior secured credit facilities, to repay Northwest borrowings. Aything left would be used for general corporate purposes, Delta said.

The world's biggest airline operator has significant debt obligations and has suffered massive losses amid the drop-off in revenue due to the global economic downturn.

But Delta is generally considered to be in stronger financial shape than some other large carriers thanks to a war chest of $5.4 billion in unrestricted liquidity it had as of June 30. That figure is expected to fall to $4.6 billion by Dec. 31.

Standard & Poor's credit ratings for Delta and Continental Airlines are not as weak as its ratings for American Airlines, United Airlines and US Airways.

The new notes will be secured by Delta's Pacific route authorities, slots and gate leaseholds. Those assets will also constitute the collateral for the company's new senior secured credit facilities, Delta said.

"They are refinancing and extending the maturities of about half their current debt maturities," Standard & Poor's analyst Philip Baggaley said in an interview. "Including what they plan with the bank facilities, it would be a material improvement to their liquidity situation if they are successful."

As of June 30, Delta listed $1.82 billion in current maturities of long-term debt and capital leases. That is debt that the airline would have to pay over the next 12 months.

Baggaley said the amount equals roughly 7 percent of the revenue the airline generated over the previous 12 months, the highest proportion of debt to trailing 12-month revenue for any large U.S. airline.

Delta listed total debt of $14.8 billion as of the end of the second quarter, regulatory filings show.

Amid the weak economy, credit markets have been tight. But airlines have at times been able to tap those markets to give themselves more breathing room with respect to their debt obligations.

"Recently, in the past several months, the capital markets have reopened to the airlines, but their access to capital was much less certain earlier this year," Baggaley said. "As the prospect of economic recovery becomes more clear and the airlines have success in raising liquidity, that builds on itself and makes it easier to borrow more, although it's usually on a secured basis."

Baggaley said the main concern of potential lenders or buyers of bonds is whether some of the weaker airlines could survive through this winter.

"That would depend on revenues, fuel prices and how much new cash they can raise to pay off debt as it comes due," he said. "The picture on the revenues and refinancing has improved recently. The fuel is about the same."

JP Morgan airline analyst Jamie Baker said in a research note Monday that his firm continues to believe that airlines are in the process of turning a financial corner.

"Balance sheets (are) by no means out of the woods, though for now we stand by our view that near-term bankruptcy risk has significantly diminished at current fundamentals," Baker said.

Delta shares rose 30 cents, or 3.3 percent, to close at $9.45 in trading Wednesday.
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Old November 25th, 2009, 04:50 PM   #514
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Delta Air Lines seeking to raise more than $688 million in debt offering
24 November 2009

ATLANTA (AP) - Delta Air Lines Inc. is seeking to raise more than $688 million by selling notes backed by aircraft it owns.

Delta expects to use the proceeds from the issuance of the notes to refinance 22 aircraft currently supporting other debt and to prepay its obligations under financings for five aircraft delivered this year. Any money left over will be used to pay fees and expenses related to the offering and for general corporate purposes, Delta said.

The world's biggest airline said in a Securities and Exchange Commission filing on Tuesday that it entered into an underwriting agreement with Goldman Sachs and Morgan Stanley in connection with the issuance and sale of the so-called pass-through certificates.

The issuance is for $568,796,000 of Class A certificates with an interest rate of 7.75 percent per annum and $119,944,000 of Class B certificates with an interest rate of 9.75 percent per annum.

The debt will be secured by 27 Boeing aircraft owned by Delta, which is based in Atlanta.
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Old December 2nd, 2009, 04:26 PM   #515
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Delta Air Lines executive urges industry to not increase capacity before rebound takes hold
2 December 2009

ATLANTA (AP) - A Delta Air Lines Inc. executive urged other carriers Wednesday to be careful not to increase the amount of flying they do too quickly.

Chief Financial Officer Hank Halter said at a New York investor conference that was broadcast on the Internet that even if a modest recovery occurs in 2010, the world's biggest airline hopes the industry maintains flat capacity.

Capacity is measured by the amount of available seats a carrier offers, times the miles flown.

Halter said Delta could eventually increase capacity 1 percent to 2 percent once demand shows strong signs of coming back. He says demand won't really gain steam until passengers feel that the recession is firmly in the rearview mirror and it is safe to spend.

"People are holding onto their money still," Halter said in his presentation during the Morgan Stanley Transportation Corporate Access Day. "When they are flying, they are flying in the back of the aircraft."

Many carriers have shed capacity over the last 18 months. The impact of the recession on business travel has been especially painful for airlines, which rely on sales of premium seats to boost revenue.

"The challenge for the industry is to make sure we don't come back and start flooding the market with more capacity ... when the demand isn't there," Halter said.

The comments came as Delta, based in Atlanta, continues its efforts to lure struggling Japan Airlines away from its partnership with American Airlines and into an alliance with Delta and its SkyTeam partners. Executives from Delta and American were scheduled to be in Tokyo on Thursday to meet with reporters.

Delta and its alliance partners have said a billion-dollar offer is on the table to lure JAL from its affiliation with American. JAL President Haruka Nishimatsu has said he will make a decision on the offer by the end of the year.

American is working aggressively to try to keep Japan Airlines in its oneworld alliance. American, a unit of AMR Corp., which is based in Fort Worth, Texas, has said that if JAL switches from the oneworld alliance it will cost JAL up to $500 million in lost revenue in the first two years after the changeover.

That figure assumes Delta initially will only be able to replace about half the revenue-sharing and other money that JAL currently gets from its oneworld partners, including American.

During the investor conference Wednesday, Halter did not address the status of Delta's talks with JAL, saying only, "All of SkyTeam would benefit, as would JAL, if JAL would come into the SkyTeam alliance."
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Old December 3rd, 2009, 08:18 AM   #516
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Delta adds Honolulu flights from San Diego, Detroit, beginning in June
2 December 2009

ATLANTA (AP) - Delta Air Lines Inc. says it will add flights from Detroit and San Diego to Honolulu beginning in June.

The company said Wednesday this will be the first time it has flown to Honolulu from San Diego. It said the new flight from Detroit restores a route that was cut in 2004. The flight from San Diego will run daily.

The company said it was able to add the routes because its combination with Northwest gives it enough passengers in each city to make the flights viable. Northwest has long maintained a hub in Detroit. Delta bought Northwest last year and has been integrating their operations.
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Old December 5th, 2009, 07:34 AM   #517
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Now I won't have to drive to LAX anymore!
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Old December 7th, 2009, 05:26 PM   #518
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Delta Air Lines posts 7.1 percent drop in November traffic, steepest among big carriers
4 December 2009

ATLANTA (AP) - Delta Air Lines Inc. said on Friday that its November traffic fell 7.1 percent, by far the biggest drop among the major U.S. carriers.

Delta flew 13.57 billion revenue passenger miles, or one paying passenger flown one mile, in November. The drop-off from November 2008 included an 11.2 percent drop in international traffic and a 4.6 percent drop in domestic traffic. The results include Northwest, which Delta bought last year.

By comparison, November traffic rose 1.8 percent at United Airlines and 2.9 percent at Continental. It fell 1.6 percent at US Airways and fell 0.5 percent at American, although American's figure didn't include its regional traffic. November traffic jumped 11.7 percent at Southwest Airlines.

Delta cut capacity, too. In November it had 17.06 billion available seat miles, down 8.4 percent from November 2008. Domestic capacity was down 4.2 percent.

Occupancy, called load factor, rose 1.1 percentage points to 79.6 percent.

For the first 11 months of the year, Delta traffic is down 6.7 percent, while it has cut capacity by 6.3 percent.

Delta shares rose 32 cents, or 3.4 percent, to $9.70 in afternoon trading.
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Old December 16th, 2009, 11:57 AM   #519
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Delta sees better 2010 after $1.1 bln loss in 2009

WASHINGTON, Dec 15 (Reuters) - Delta Air Lines Inc forecast a $1.1 billion net loss for 2009 due to losses in its fuel hedges but said revenue trends in the fourth quarter suggested a better 2010.

"There is a fairly significant fuel hedge loss embedded in those numbers," Delta President Ed Bastian told attendees at its annual investor day on Tuesday. He added that the losses were incurred earlier this year.

Delta's shares fell nearly 4 percent in morning trading but regained most of that by midday -- trading off less than 1 percent on the New York Stock Exchange at $10.99.

Recession has sapped corporate and consumer demand for air travel this year, leading to a drop in revenue for the global airline industry. Delta, like other airlines, has responded by cutting capacity.

But executives at the world's largest airline said fourth-quarter trends were showing a marked improvement from earlier in the year. For example, the volume of tickets sold to corporate clients rose almost 15 percent over the last couple weeks, Bastian said.

The company now expects an operating margin of 1 percent to 2 percent for the fourth quarter. Earlier, it was expecting a break-even quarter. It also expects unchanged capacity in 2010.

In a U.S. Securities and Exchange Commission filing released ahead of its investor day presentation, Delta also indicated that unit revenue would be down 1 percent in December, a smaller rate of decline compared with previous months.

The airline expects unit revenue to turn positive in the first quarter, on a year-over-year basis. Unrestricted liquidity would be $5.3 billion by year's end, Delta said. Executives said they want to maintain minimum liquidity at the $5 billion range in 2010.

This trend is another data point offering "real tangible evidence that a recovery is under way," Bastian said.

If current trends persist, the airline projects it could see about a 7 percent increase in baseline revenue from passenger traffic in 2010.

Delta expects operating cash flow of $2.3 billion in 2010 and will use a significant portion of that to pay down debt. The company estimates $700 million in pension funding for the coming year.

CONSOLIDATION NEEDED

The global airline industry is expected to lose $5.6 billion next year, due to rising fuel costs, according to new data from industry group International Air Transport Association.

North American carriers are likely to lose $2 billion in 2010, besting their European counterparts, which are expected to shed $2.5 billion.

In his opening remarks, Chief Executive Richard Anderson said consolidation would help the industry reach sustained returns.

"Over time, more consolidation will help this business model evolve to a return on capital," Anderson said.

Delta acquired Northwest Airlines last year, and that merger was "a very significant step, a step that ought to be taken in more than just the case of Delta/Northwest," Anderson said.
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Old January 1st, 2010, 06:04 AM   #520
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FAA authorizes Delta, Northwest to operate as single carrier
Northwest name to be phased out

31 December 2009

ATLANTA (AP) - Delta Air lines Inc. has received government permission to operate its namesake service and its Northwest Airlines subsidiary as a single carrier, a Delta executive said Thursday.

The single operating certificate from the Federal Aviation Administration allows Delta to put its code on Northwest flights and phase out the Northwest name. That process will be complete in the first quarter of 2010. For now, travelers won't notice anything different.

Delta, based in Atlanta, acquired Northwest for $2.8 billion in stock in October 2008 to become the world's biggest airline.

Delta and Northwest are now one airline, meaning that for the first time pre-merger Northwest operations will be combined into Delta's operations, Chief Operating Officer Stephen E. Gorman said in an internal memo.

Northwest is the primary carrier at Detroit Metropolitan Airport -- the destination of a Christmas Day flight from Amsterdam that was the target of a failed terror attack.

Labor issues remain, however. While pilots and some smaller work groups from both carriers are operating under joint contracts and seniority lists, flight attendants and gate and reservation agents and ramp workers have not resolved representation issues. Pre-merger Northwest was heavily unionized, while pre-merger Delta was not -- its pilots were its only major work group to be in a union.

Meanwhile, more than 80 percent of pre-merger Northwest aircraft have already been painted over with the Delta livery. Employees of both carriers are wearing the same uniforms, and the two carriers frequent-flier programs have already been combined under the Delta SkyMiles brand.

But operationally, the two carriers have been kept separate while Delta sought the FAA certificate.

Delta plans to operate Northwest-coded flights until all seats and fares are consolidated in Delta's reservations system. Once that occurs, it will remove the distinction for passengers of purchasing on Delta or Northwest, and the Northwest Web site will be folded into Delta's.

Still unresolved for Delta is its effort to lure Japan Airlines Corp. away from its alliance with American Airlines and into Delta's SkyTeam alliance. There's been no word on a decision by JAL, which is said to be teetering on the verge of bankruptcy.

Delta also is dealing with the aftermath of the Christmas Day terror incident.
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