...Since Charles flies so much on Delta, he must talk to every Captain and co-Pilot, and tell them to take a pay cut, so he can continue to be a First Citizen..... Bryant Petitt Cumming, GA --- Bill Hough <psa188@xxxxxxxx> wrote: > =20 > ---------------------------------------------------------------------- > This article was sent to you by someone who found it > on SFGate. > The original article can be found on SFGate.com > here: > http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2004/04/14/f= > inancial0739EDT0017.DTL > > --------------------------------------------------------------------- > Wednesday, April 14, 2004 (AP) > Delta reports narrower 1Q loss, misses expectations > HARRY R. WEBER, AP Business Writer > > > (04-14) 04:39 PDT ATLANTA (AP) -- > Delta Air Lines says it must urgently cut costs > amid a huge first-quarter > loss that was narrower than last year but still > missed Wall Street > expectations. > The nation's third-largest airline said Wednesday > it lost $387 million, = > or > $3.12 a share, for the three months ending March 31, > compared to a loss of > $470 million, or $3.81, a share in the same period a > year ago. The latest > loss includes $4 million paid out in dividends to > preferred shareholders. > Analysts surveyed by Thomson First Call were > expecting a loss of $3.02 a > share. > Revenue in the January-March quarter was $3.29 > billion, a 4.3 percent > increase from the $3.16 billion recorded in the same > period a year ago. > "This was a disappointing quarter for Delta and > there are more challengi= > ng > times ahead," said Gerald Grinstein, Delta's chief > executive officer. > "Continued losses of this magnitude are > unsustainable." > He added, "Delta must regain sustained > profitability so we can compete > effectively. The urgent task is to achieve a > competitive cost structure so > that Delta can generate a positive cash flow, reduce > its debt burden and > return to profitability." > Delta executives have been trying to cut costs > for more than a year to t= > ry > to return the airline to profitability. The airline > has laid off 16,000 > employees since the 2001 terrorist attacks. > The company is seeking a 30 percent pay cut from > pilots, who are offering > only 9 percent and to forego a 4.5 percent raise > they are due in May, > according to the pilots union. > > On the Net: > Delta Air Lines: www.delta.com > > > ---------------------------------------------------------------------- > Copyright 2004 AP __________________________________ Do you Yahoo!? Yahoo! Tax Center - File online by April 15th http://taxes.yahoo.com/filing.html