Delta Air Lines turned a profit of just under $70 million dollars for the month. If you would have factored out the expenses for reorganization the airline would have made nearly $100 million for the month.
Despite the fact that the union groups at the airline gave up so much in concessions and some are about to loss their pensions the airline continues to say that they MUST cut costs to save the company. "That is really kicking tail and taking names, financially. They made $100 million, essentially. That's not too bad," said Michael Boyd, an airline consultant with the Boyd Group in Evergreen, Colo. "Gerald Grinstein [Delta's chief executive officer] is turning it around."
The same story rings true at Northwest Airlines. The airline actually made $101 million dollars in July and if you factor out reorganization expenses, the airline would have made nearly $140 million dollars for the month. That profit would have ranked it up there with Continental Airlines, American Airlines and United Airlines. This profit has to anger the flight attendants union at Northwest Airlines who believe the airline will not negioate with them in good faith even after their strike was blocked by a judge. This profit could be considered a slap in their face.
Reuters.com and Salt Lake Tribune
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