Nope. Pilots are the only ones unionized, and they gave Delta what they asked for. Like the analyst in the article said, there are only three things to blame: fuel, fuel, fuel.
Is that really true? Delta is paying the same amount for fuel as the discount airlines are paying - or at least had the chance at the same fuel contracts. Yet Jet Blue, for instance, is turning a profit while Delta isn't.
No, you have to add pension liability in there. They are going to ditch that liability, put in a fairly nice defined contribution plan, and immediately add 5 billion to the bottom line.
If that were so, they'd all by going bankrupt. Delta doesn't pay any more than the others.
Well I think it's more than fuel,fuel fuel. The pilots union made a sweet deal with the previous jerk CEO, Leo Mullin. Pilots can retire and walk out the door with a 1 million in at Delta have had wonderful work rules sometimes paid double pay for a flight. It's the other employees in the other departments who can least afford to take a paycut.Unlike the pilots they have had about a 2% pay raise in over a dozen years. Couple that with inflation and their pay has substantially decreased in the past 12 years. Not only that but the other departments which are non-union have incurred severe reductions in staff,medical benefits and a worsening work environment. If Delta announces more than a 15% paycut I would predict a lot of resignations. The mechanics are the only other labor department with substantial pay raises and have an average income of $100,000.