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Started By
Message
Delta suspends dividend, borrows 2.6 billion dollars
Posted on 3/20/20 at 3:41 pm
Posted on 3/20/20 at 3:41 pm
Burning through 50 million per day.
Saw it on CNBC
Saw it on CNBC
7
Posted on 3/20/20 at 3:46 pm to bayoubengals88
Crazy to think that 2.6 won't last them 2 months at that burn.
Posted on 3/20/20 at 3:51 pm to bayoubengals88
SOB
O
B
O
B
Posted on 3/20/20 at 3:56 pm to bayoubengals88
I'm afraid to buy anything right now.
And I wonder if they already paid out that 2 months of bonuses to all employees that they announced in February, of if they have stopped that at least for now.
And I wonder if they already paid out that 2 months of bonuses to all employees that they announced in February, of if they have stopped that at least for now.
Posted on 3/20/20 at 4:11 pm to kywildcatfanone
quote:
And I wonder if they already paid out that 2 months of bonuses to all employees that they announced in February, of if they have stopped that at least for now.
They have been paid.
Posted on 3/20/20 at 4:13 pm to bayoubengals88
This or worse has to be priced in already. Not going to get much cheaper IMO. Sitting tight.
Posted on 3/20/20 at 4:15 pm to TigerDeBaiter
$15 to $17 next week with jobs reports.
Take that to the bank.
Take that to the bank.
Posted on 3/20/20 at 4:15 pm to bayoubengals88
(no message)
This post was edited on 2/4/21 at 5:31 am
Posted on 3/20/20 at 4:40 pm to jimbeam
Tbh, I don’t feel bad for any of you who have this stock. Their balance sheet is ATROCIOUS.
They’ll be the first to bankrupt. Mark my words.
They’ll be the first to bankrupt. Mark my words.
Posted on 3/20/20 at 4:46 pm to TigerDeBaiter
quote:
This or worse has to be priced in already. Not going to get much cheaper IMO. Sitting tight.
That’s what I said at 34.80 on Tuesday and again at 22.00 on Wednesday. Then I read info on their corporate bond issue Wednesday and started wondering if the impossible might be more than a possibility. I am not sure if anyone knows what is priced in with this market because algo’s are controlling a lot.
I am not sure anyone knows if this is priced into the market, funds are getting squeezed with redemption requests or if algorithms are part of the fall. It’s brutal.
This post was edited on 3/20/20 at 4:47 pm
Posted on 3/20/20 at 4:46 pm to LSUTigers00884
(no message)
This post was edited on 2/4/21 at 5:27 am
Posted on 3/20/20 at 4:49 pm to Lakeboy7
quote:
None of the players in that industry are going tits up. Uncle sugar is coming with the band aid.
GM 2009 shareholders say HI!
This post was edited on 3/20/20 at 4:50 pm
Posted on 3/20/20 at 4:52 pm to LSUTigers00884
quote:
They’ll be the first to bankrupt. Mark my words.
You think WB will allow this? Wrong
Posted on 3/20/20 at 5:01 pm to LSUTigers00884
quote:
Tbh, I don’t feel bad for any of you who have this stock. Their balance sheet is ATROCIOUS.
What was wrong with their balance sheet before this? I thought it was pretty good for an airline in December 2019.
Posted on 3/20/20 at 5:42 pm to go ta hell ole miss
quote:
GM 2009 shareholders say HI!
You can bet your bottom dollar that Buffett is NOT letting his stock get wiped out.
Posted on 3/20/20 at 5:47 pm to go ta hell ole miss
Yes I agree that either Buffett or Government will bail them out.
Delta:
Liabilities to Assets: 79%
Current Assets to Current Liabilities: 33.7%
Cash to Current Liabilities: 8.95%
They have NO CASH or current assets.
So here’s a company that will have to count on productivity to continue. And when productivity discontinues (ie corona virus), they will have to borrow money to survive which increases their debt load?
No thanks. Saw that and knew they’d have to discontinue dividends, exec salaries, and borrow money.
Guess what happened? All three of those.
Delta:
Liabilities to Assets: 79%
Current Assets to Current Liabilities: 33.7%
Cash to Current Liabilities: 8.95%
They have NO CASH or current assets.
So here’s a company that will have to count on productivity to continue. And when productivity discontinues (ie corona virus), they will have to borrow money to survive which increases their debt load?
No thanks. Saw that and knew they’d have to discontinue dividends, exec salaries, and borrow money.
Guess what happened? All three of those.
Posted on 3/20/20 at 6:13 pm to LSUTigers00884
quote:
They’ll be the first to bankrupt. Mark my words.
Idk, go look at American Airlines if you wanna see worse. I can't see how they DON'T go bankrupt.
The question is, how much is the gov't going to spend to save these companies? AAL might need $50 bil alone to stay afloat.
This article about JetBlue's COO letter to staff lays out just how dire it is right now for airlines. These companies are going to be hemorrhaging money for months and months.
LINK
And Jetblue actually have one of the better balance sheets in the industry.
Posted on 3/20/20 at 7:06 pm to LSUTigers00884
quote:
They have NO CASH or current assets.
Well, not quite. They have 2.9B in cash and 8.5B in current assets according to their most recent 10-K (see consolidated balance sheet on page 53).
LINK
I'm not saying it's a good buy or anything, but I checked the math, and none of the calculations you've provided are correct.
Posted on 3/20/20 at 7:16 pm to FinleyStreet
quote:
Well, not quite. They have 2.9B in cash and 8.5B in current assets according to their most recent 10-K (see consolidated balance sheet on page 53).
LINK
I'm not saying it's a good buy or anything, but I checked the math, and none of the calculations you've provided are correct.
Dude, that was as of 12/31/2019, a shite ton has happened since then, mainly terrible for airlines. That's why many companies have fully drawn their credit lines before they get locked out.
ETA, and DAL did screw their shareholders last time something big happened to them. Maybe the govt does bail them out, but not the stock holders.
This post was edited on 3/20/20 at 7:18 pm
Posted on 3/20/20 at 9:04 pm to FinleyStreet
My math is correct. Go check again. Balance sheet on TD Ameritrade
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