They can get so much more productivity without a third party acting as an intermediary. The unions will probably get the right to hold a vote, but I think there's a good chance Delta will keep the unions out. Last time there was a vote by mechanics, to my surprise it was overwhelmingly voted down.
More Quotes from Ray Neidl:
Operating two products under the same name has never worked. They've learned a lot from operating a low cost product and now in bankruptcy they can incorporate that into their main line product.Ray Neidl
Airline stocks have been having a rally because they're expected to lose less money next year than they did in 2005. That's not a solid reason to buy on a long-term basis, but those who bought in September have done very well.
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If there's a bright light for the company, I'm sure management will try to be turning it on, but I don't see it.
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The government has to rethink its anti-trust policy on airline mergers. Otherwise, future liquidations are inevitable.
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We believe that there is much upside potential both on the cost-cutting side ... and on the revenue side.
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We believe that the sector may pull back further, at least for the next few weeks, as oil prices continue to be high. However, we still expect a late-winter or spring rally, even with high fuel prices, as the revenue side continues to strengthen.
Ray Neidl
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