Bought some Delta yesterday

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I’m wondering if I should buy Delta before the bailout comes or wait to see if it drops sub $25.

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Same. I've been so close to going in at $33/$34 today, but am hesitant for this exact reason.

Just read this....

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Delta is in advanced talks with banks to borrow about $4 billion and an announcement could come as early as Tuesday, a person briefed on the matter said. Bloomberg reported the talks earlier.

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Reuters

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sold delta, you better be prepared for the long haul, its going to take a long time for it to come back no matter the stimulus.

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Yeah, even with a bailout it is tough to see demand for travel reaching normal levels for a long long time. Will be very tough for companies and individuals to spend on non-essential travel for awhile.

I’m holding out a tad bit longer. Too many things still in motion. I want to believe American can bounce back. Especially with a bailout.

I’m not saying you are wrong, but saying this is worse than 9/11 for airlines seems hyperbolic.

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In the August preceding 9/11, the airline industry experienced what was then a record high in the number of airline passengers for a given month when 65.4 million travelers took to the air. After 9/11, that number trailed off dramatically, and it took nearly 3 years, until July 2004, for the industry to match and finally surpass the pre 9/11 levels. But the number of available seats—an industry measure of capacity— in July 2004 was just 98.3 % of its August 2001 peak. By July 2005, the number of airline passengers had reached 71 million.

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I’m guessing airlines won’t take 3 years to recover from this

The airline bailout approximates the dividends paid + buybacks. Wonderful. Right wing socialism at its finest.

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Added more Boeing today at 115...unreal. Bailout coming for certain.

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I’m on the other side of that trade. I sold BA call spreads into yesterday’s rally. They’re hemorrhaging cash and the worst is not over as far as the virus, deliveries and their debt situation.

Mine is a shorter term trade, so in the long run, we could both be right. But for now, I wouldn’t be surprised to see it in the 90s or lower before it bottoms out. This morning there was even talk of potential bankruptcy. I’d hate to see that for such an iconic American manufacturer.