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what is the status of the chap 11..... ithought I heard they were close to getting out??
Posts: 952 | From: OH | Registered: Apr 2005
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Guess nobody is watching this one. Sure glad I bought a couple thou at 1.35 this afternoon. Up thirty percent after hours. This is a company that is trying everything. Opening new lines, and selling off others for the cash. I believe there is some more up left, perhaps to the mid two range next couple days. Thing is imo, they will remain a viable company even if, or as most think when they do go into bk.
-------------------- If you don't have instincts, get out. If you do; go with them. Posts: 262 | From: Florida | Registered: May 2005
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Keep your eye on this, I missed out on it. The Song line is actually doing quite well. I recently spent too much money on plane tickets for carriers such as Southwest and America West. Bad connections and overpriced. But for SOng the prices were still really good yet being snapped up as fast as they were being released. I managed to buy to round trip airfares on Song for peak Thanksgiving travel at 242 per person after the oil hike. Not too bad. If this keeps up for them, they may pull through.
-------------------- Life only has so many choices, choose wisely. Posts: 97 | From: California | Registered: Apr 2005
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MarketWatch Market Pulse: Delta, Northwest lift airline index Tuesday August 16, 10:02 am ET By August Cole
SAN FRANCISCO (MarketWatch) -- Airline stocks took off in early trading Tuesday as Delta Air Lines led the advance with a 17% rise that followed the sale of Atlantic Southeast Airlines to SkyWest Inc. . Northwest Airlines gained almost 10% after Morgan Stanley upgraded the stock to overweight. J.P. Morgan also wrote that a strike by the Aircraft Mechanics Fraternal Association would be well received by the markets because it would "validate management's high-risk, hard-line labor approach" and send a message to the other organized mechanics and flight attendants at the company. The Amex Airline Index rose 4.7%.
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I may be wrong here, but I think investing in DAL is nuts. Why would you want to increase the risk? It may go up is right but you should never ever trade against the trend. Investing can be very risky as we all know and if we are smart, we have ways to significantly reduce the risk...but why gamble in the stocks praying a company who is going under is going to go up much? That is like investing in Enron. Now I could be wrong but I think people hoping a stock is going to go up 90 cents is crazy. There are plenty of strong companies available in that range that have weekly .75 swings. But dont think Delta is going to swing more than once at 75 cents. Please reduce the risk so americans dont think stock markets is a gamble. THINK OF YOUR FAMILIES! Again I could be wrong though. I do not mean this post in a condiscending way...
-------------------- Sometimes you gotta create what you want to be a part of. - Geri Weitzman Posts: 40 | From: Macon, GA | Registered: Aug 2005
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Understood Ian... when dealing with these keep your stop limits in.Had my sell for a price & an alarm for any sudden drop(IM)well my sell went through,didn't think it would so sudden.Bought @ $1.33 yesterday had limit @ 1.55<<<not to greedy anyway it filled while away today.This is truly short term with caution all over it!!
Some News...
NEW YORK (AFP) - Delta Air Lines faces "a very high risk of near-term bankruptcy," financial rating agency Standard and Poor's said as the third-largest US carrier scrambled in the face of a cash crunch.
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S and P said it placed Delta's ratings -- already a low "CC" -- on "credit watch with negative implications" because of growing liquidity problems.
"The recent surge in fuel prices and Delta's disclosure that it will have to post 750 million dollars of cash collateral to extend its credit card processing agreement indicate that the airline's already slim chances of avoiding bankruptcy are dwindling rapidly," said S and P analyst Philip Baggaley.
Delta said Monday it was offloading Atlantic Southeast Airlines for 425 million dollars in cash to rival carrier SkyWest Inc., and would use some of the proceeds to pay down 100 million dollars in debt.
Despite this, S and P said Delta's cash reserves "will decline substantially during the remainder of 2005," and the carrier acknowledges "significant uncertainty" as to whether it will be able to "maintain adequate liquidity."
"Even if Delta is able to address near-term liquidity concerns, it needs also legislative relief from substantial upcoming pension funding requirements," S and P added.
"Delta will likely have to decide whether it can avoid bankruptcy by October 17, at the latest, after which amendments to the federal bankruptcy code implement less favorable terms for debtors."
According to S and P, Delta's overall debt amounts to about 21 billion dollars and its defined benefit pension plans are underfunded by more than five billion dollars.
The company had about 1.7 billion in cash as of June 30, but this was expected to decline substantially over the remainder of the year. Delta has 420 million dollars of debt maturing this year, mostly in the fourth quarter, and 135 million dollars in pension funding requirements over the remainder of 2005, S and P said.
Posts: 2093 | From: Leaving Your House | Registered: Apr 2004
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Again I could be wrong though. I do not mean this post in a condiscending way...![[Big Grin]](biggrin.gif)
anyway it filled while away today.This is truly short term with caution all over it!!
