Bucking Bar

If the Company had her information, I'm surprised they did not try to assign her the Manaus trip on 4AM short call.

buzzpat

Especially after his performance in the Senior Bowl today. Jillian Michaels could throw a tighter, more accurate pass.

forgot to bid

This might actually answer Bar's quesiton as to why our stock increased initially on the earnings report...

US CREDIT-Delta may outperform peers as leverage drops
Wed, Jan 27 2010
By Karen Brettell
NEW YORK, Jan 27 (Reuters) - Delta Air Lines Inc's debt protection costs have fallen as the company reduces its leverage, and if its earnings continue to improve the company's credit valuations are likely to outperform its peers.

Delta, which acquired Northwest Airlines in 2008 to become the world's biggest airline, on Tuesday reported a smaller loss for the fourth quarter and said it expected an increase in business travelers to aid results this year. Earnings improvement helped the company reduce its leverage, a measure of debt relative to earnings before interest, taxes, depreciation and amortization (EBITDA), to 10.6 times, from 12.1 times in the previous quarter, Gimme Credit analyst Vicki Bryan said in a report.

The airline, which emerged from a 19-month restructuring in bankruptcy in 2007, has benefited from cost cuts from its merger with Northwest, in addition to cost and debt reductions achieved in bankruptcy. Delta further benefits from a strong cash position and a low cost per available seat mile, a metric used to compare airline performance.

Although this cost increased in the fourth quarter, it remains lower than competitors including Continental Airlines Inc <CAL.N> and AMR Corp <AMR.N>, the parent of American Airlines.

"Delta remains the only airline with a positive 2010 operational story -- everyone else is counting on yield and traffic growth to cover increasing unit costs," analysts at CreditSights said in a report. "Now able to combine both airline units, the marketing and organizational synergies of the world's largest airline can be fully realized," they said. The cost of insuring Delta in the credit default swap market dropped by almost a third in the last quarter, to 1,092 basis points on Wednesday, or $1.09 million per year for five years to insure $10 million in debt, from as high as 1,548 basis points in November, according to Markit. This compares with swaps on similarly rated Continental, which are trading at around 1,210 basis points, and 1,654 basis points for AMR, which is rated one to two notches lower than Delta by Standard & Poor's and Fitch Ratings.

"We expect revenue growth and profitability to be restored in 2010, despite a potentially more tepid economic recovery. Delta continues to cut costs and capex, and free cash flow is rapidly increasing," Gimme Credit's Bryan said. As the company further reduces leverage and reduces debt taken on to fund the purchase, its debt could rally further.

Delta's free cash flow is projected to turn positive in 2010 to $1.2 billion, with much of the proceeds targeted for debt reduction, said Bryan. This, combined with much stronger
earnings growth, could halve the company's leverage to around 5 times debt to EBITDA by year end, she said.

"Delta remains one of our top picks and we would continue to buy its larger, more liquid issues of secured debt," Bryan said.
(Editing by Leslie Adler)

Its what I was trying to say!

Denny Crane

I gotta say Carl...............I love your sense of humor!!!

Denny

forgot to bid

Touche.

sailingfun

He could not have been tricked to badly. While white slips are bid month specific in order to enter a WS for the Feb bid period he had to type 31JAN10 to even get to the correct page and then he had to type the same 31Jan into the template. If he put 1 Feb he would not have been awarded a WS on 31 Jan. I don't know what actually happened but no was was he unaware of the bid period start date.

forgot to bid

Previous posting of the Reuters article for Clamp and those of his age:

(I had 3 ways to go with this, Snoop Dogg talk that 80 speaks well, Ebonics or Jive. I chose the later because I figured I was more likely to find folks on this thread who appreciate: YouTube - Airplane! Oh stewardess, I speak jive)

US CREDIT-Delta may outpuh'fo'm peers as leverage drops Wed, Jan 27 2010 By Karen Brettell NEW YORK, Jan 27 (Reuters) -

Delta Air Lines (DAL phat, round, thick *** vessels run up in da sky) Inc's debt protecshun costs gots' fallen as de company reduces its leverage, and if its earnin's continue t'improve da damn company's credit valuashuns are likesly t'outpuh'fo'm its peers. Delta, which acquired No'dwest Airlines (NWA FOOL) in 2008 t'become da damn wo'ld's big-assgest airline, on Tuesday repo'ted some little-assa' loss fo' de foed quarta' and said it 'espected an increase in business travelers t'aid results dis year. Ah be baaad... Earnin's improvement helped da damn company reduce its leverage, some measho' nuff uh debt relative t'earnin's befo'e interest, taxes, depreciashun and yo amo'tizashun (EBITDA) be t'10.6 times, fum 12.1 times in de previous quarter, Gimme Credit analyst Vicki Bryan said in some repo't. De airline, which emerged fum some 19-mond restructurin' in bankrdowntcy in 2007, gots'ta benefited fum cost cuts fum its merga' wid No'dwest, in addishun t'cost and debt reducshuns achieved in bankrdowntcy. Slap mah fro! Delta furda' benefits fum some strong cash posishun and some low cost puh' available seat mile, some metric used t'compare airline puh'fo'mance.

What it is, Mama! Aldough dis cost increased in de foed quarter, it remains lowa' dan competito's includin' Continental Airlines Inc and AMR Co'p , de parent uh American Airlines. "Delta remains de only airline wid some positive 2010 opuh'shunal sto'y -- everyone else be countin' on yield and traffic growd t'cova' increasin' unit costs," analysts at CreditSights said in some repo't. "Now able t'combine bod airline units, de marketin' and o'ganizashunal synergies uh de wo'ld's largest airline kin be fully realized," dey said. De cost uh insurin' Delta in de credit default swap market dropped by mos' a dird in de last quarter, t'1,092 basis points on Wednesday, o' $1.09 million puh' year fo' five years t'insho' nuff $10 million in debt yo, fum as high as 1,548 basis points in November, acco'din' t'Markit. Dis compares wid swaps on similarly rated Continental, which are tradin' at around 1,210 basis points, and 1,654 basis points fo' AMR, which be rated one t'two notches lowa' dan Delta by Standard & Poo''s and Fitch Ratin's.

"We 'espect revenue growd and profitability t'be resto'ed in 2010, despite some ******** potentially mo'e tepid economic recovery. Slap mah fro! Delta continues t'cut costs and capex, and free cash flow be rapidly increasin'," Gimme Credit's Bryan said. As de company furda' reduces leverage and reduces debt snatchn on t'fund da damn purchase, its debt could rally furder. Ah be baaad... Delta's free cash flow be projected t'turn positive yo in 2010 t'$1.2 billion, wid much uh de proceeds targeted fo' debt reducshun, said Bryan. 'S coo', bro. Dis, combined wid much stronger earnin's growd, could halve da damn company's leverage t'around 5 times debt t'EBITDA by year end, she said. "Delta remains one uh our top picks and we would continue t'steal its larger, mo'e liquid issues uh secured debt," yo punk Bryan said. Have a pimp tight day. (Editin' by Leslie Adler)
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gripen

Hmmm, all I heard was: Jillian Michaels kicks my ass ( and maybe more?), and then Blah, Blah, Blah....

Ferd149

Thanks for checking that, I appreciate it.

You just may, as I bet a big chunck of the Asia rim/south flying will go there from MSP and DTW. You need to be off your diet when we hit Saipan

forgot to bid

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