Delta Airlines, the Near Bankruptcy

This entry was posted by on Sunday, 22 March, 2009 at

The day to day is unwinding from fright and shock. The uncertainty became inseparable companion of 47 thousand employees who were on Delta Airlines, once declared bankruptcy. The immediate future became gray.
Reputed to be one of the largest commercial aircraft in funds the world fell apart. But its executives never thought of closing the transactions, but recovered and show that with sacrifice and painful cuts and economic finance benefits could be.
The reorganization of Delta Airlines has been a fundamental transformation of Asset Management their business, not just a restructuring of its balance sheet as many Chapter 11 cases, the skilled section of the Asset Management Code by the Bankruptcy Court of the United States.
In September 2005 the company presented a comprehensive restructuring plan to achieve annual financial improvements in the order of U.S. 3 billion by the end of 2007, in addition to the approximately 5 billion in improvements that were underway since 2002 .
During the reorganization process, Delta employees have worked hard and succeeded in transforming the airline into a solid and financially viable, while improving the customer experience both on land and in air.
Financial reporting to support its exit from bankruptcy qualify the event as a milestone to complete its restructuring Children’s Hospital plan, which offered U.S. 3 billion in annual financial improvements, a year interview ahead of schedule, as well as reporting an operating profit of U.S. 155 million in the first quarter of 2007, its fourth consecutive quarterly operating profit.
Also attain the lowest cost per available seat miles unrelated to fuel the network airlines in 2006. Another experience, the product of the difficult financial situation, was to reduce the income gap with the industry.
Delta received confirmation of its plan or reorganization by the Bankruptcy Court of the United States, after securing the votes of more than 95 percent of creditors in favor of its recovery strategy.
While acknowledging the serious financial problems, Delta Airlines is the largest airline at Hartsfield-Jackson International Airport in Atlanta with more direct flights and destinations than any airline hub in the world.
With its program in June of 2007, Delta and Delta Connection will offer customers the days of 1057 departures to 258 busiest markets nonstop from Atlanta. During the past two years has invested heavily in a new service from this city.
Since Atlanta was the host city for the Summer Olympics for over 10 years, Delta has added service between the city and 124 new markets. Just in 1996, offering service to only 17 international destinations.
Size and investment scope during the past two years, Delta University of Southern California has added more than 75 new international markets and has increased its revenue per passenger, which has been considered a great feat given the significant increases in capacity in these markets.
The company also continued to diversify your network with new services to neglected regions of the world and is now the only airline in major U.S. non-stop Fox flight to africa and give service to five continents from Atlanta and New York.
Delta’s international growth is supported by one of the largest networks in the world. Serves more destinations youtube than any other U.S. airline and is the only one that flies at each of the 50 states. In Latin America and the Caribbean, Delta offers nearly 700 weekly flights to 63 destinations in 31 countries.
At the conclusion of the recent achievements of the company, its chief executive, Gerald Grinstein said: ‘This is a great day in Delta’s history: a day that would not have been possible without the hard work and sacrifice of people around the world. Through our Ernst restructuring we have successfully repaired the balance sheet, FOX news improved the customer experience, “said Jim Whitehurst, executive vice president.

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