You pretty much need to back out that 5 cent credit they're talking about and say they lost 10 cents for the quarter.
More Quotes from Jim Corridore:
If we get back into the 70s and stay there it obviously throws our model.Jim Corridore
Analysts expect Delta to remain in bankruptcy for at least a year and a half to two years. They have a lot of work to do, ... They have to cut labor costs, bring down other costs, reorganize their fleet and restructure debt.
Jim Corridore
Business travelers have learned that you don't need to pay those higher, unrestricted fares. There is always going to be some business travel that needs the flexibility to change flight plans. But the policy of many large corporations will be to book in advance to save money or justify it when you don't.
Jim Corridore
They have to realize it'd be biting off their own nose to strike, ... I'm sure the union is using the financial situation for leverage. They know they have the company over the barrel.
Jim Corridore
That would certainly go a long way to helping the company, ... Labor costs are the biggest bucket they can attack. The government might be more willing to help with this level of cuts. Even with DIP financing, they're going to face a liquidity problem. They could use those loan guarantees.
Jim Corridore
Labor is taking control of the plane, flying the entire company, and management is sitting there waiting.
Jim Corridore
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