The recent surge in fuel prices and Delta's disclosure that it will have to post 750 million dollars of cash collateral to extend its credit card processing agreement indicate that the airline's already slim chances of avoiding bankruptcy are dwindling rapidly.
More Quotes from Philip Baggaley:
It won't take much of a switch to change the result, ... There's also the precedent of the other labor groups approving it, including the mechanics, who were thought to be toughest sell. I don't think even those who voted against it are eager to go into bankruptcy.Philip Baggaley
The pilots are the last major labor group to reach a preliminary agreement (except for striking mechanics who have been replaced) and the largest source of labor savings being sought by the airline.
Philip Baggaley
As you shrink an airline, you also reduce your revenue- generating ability. Obviously, they'll try to shrink the unprofitable markets.
Philip Baggaley
The revenue picture has improved and this is a huge change. The big swing factor is the long-awaited improvement in pricing.
Philip Baggaley
In the longer term, if the storm and resulting higher energy prices slow economic growth and consumer spending, it will have an indirect depressing effect on air travel.
Philip Baggaley
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