Delta Air Lines 2004 Annual Report

Total Page:16

File Type:pdf, Size:1020Kb

Delta Air Lines 2004 Annual Report 2 Officers & Directors 4 Global Diversity & Community Affairs 8 Safety, Security & Environment 12 Delta Domestic Destinations 14 Delta International Destinations 16 Corporate Governance 17 Ethics & Business Conduct 18 Consolidated Financial Highlights 19 Form 10-K IBC Shareowner Information >> DEAR SHAREOWNERS, CUSTOMERS + EMPLOYEES: Though not without hardship, in many respects 2004 was a remarkable year for Delta Air Lines. Under the leadership of a new and invigorated management team, and thanks to the diligence, sacrifice and ingenuity of Delta people and commitments from our stakeholders and partners, our airline proudly proved its mettle by undertaking an unprecedented transformation that gave us an opportunity to avoid the court-supervised restructuring path some other carriers could not. There is no question that the aviation marketplace, in the last and more work still ahead, Delta by the end of 2004 had made throes of deregulation, has changed permanently and funda- real progress pursuing the “Delta Solution”: mentally – and will continue to change. New competitors, new • With an unrelenting focus on its Profit Improvement Initiatives technologies and new customer travel preferences and patterns (PII) and other cost reductions, Delta secured $2.3 billion of the have converged to shake up an industry with too much capacity $5 billion in annual benefits estimated as necessary to lower its and complexity and too little flexibility. cost structure and hit initial financial viability targets in 2006. As an old Chinese proverb observes, “Unless we change our • At the same time, we launched improvements to our product, direction, we’re likely to end up where we’re headed.” After services, network and fleet, adding passenger-friendly technolo- thoroughly analyzing the harsh financial pressures and the gies and initiating refurbishment of aircraft interiors. Delta’s competitive reality of low-cost carriers’ continued expansion, entire infrastructure was retooled to prepare for the early 2005 Delta embarked upon an ambitious and accelerated journey to launch of two innovative and industry-leading initiatives: reinvent and redirect itself. Our goal is to meet the competition SimpliFares™ and the redesign of Delta’s route network. head-on by becoming a more efficient and simplified airline • SimpliFares™ permanently changed Delta’s domestic pricing uniquely designed to improve the customer travel experience structure to be more competitive and consistent. Customers while simultaneously cutting costs. On September 8, 2004, Delta’s more frequently used our improved website, delta.com, to make comprehensive Transformation Plan was announced to the world, reservations and purchase tickets. And, revenues from the and the vision for the right airline for the new era was unveiled. increased traffic fueled by more satisfied customers helped offset the lower fares, exceeding expectations for the Cincinnati In the face of unprecedented fi nancial losses, including a test market and accelerating the 2005 SimpliFares™ rollout in $5.2 billion net loss for 2004, and with considerable challenges the 48 contiguous states. >> OFFICERS + DIRECTORS Delta Air Lines Officers Gerald Grinstein James M. Whitehurst Michelle McKinney Frymire Michael Quiello Chief Executive Officer Senior Vice President and Vice President – Finance Vice President – Corporate Michael J. Palumbo Chief Network and Planning Marketing and International Safety, Security and Officer Compliance Executive Vice President and Hank Halter Chief Financial Officer D. Scott Yohe Vice President and Controller Steven P. Scheper Gary Beck Senior Vice President – Elizabeth H. Johnston Vice President – Government Affairs Reservation Sales Senior Vice President – Flight Vice President – Human Operations and Chief Pilot Wayne Aaron Resources Neil Stronach 2 Anthony N. Charaf Vice President – Corporate Gregory W. Kennedy Vice President – Operations, Strategic Planning Planning, Control and Senior Vice President – Vice President – Airport Reliability Technical Operations Harlan R. Bennett Customer Service – West John J. Varley Paulette L. Corbin Vice President – Robert L. Kight Revenue Management Vice President – Associate Senior Vice President – Vice President – General Counsel In-Flight Service Harold L. Bevis Compensation and Benefits Mona Warwar Richard W. Cordell Vice President – Leslie P. Klemperer Public Affairs Vice President – Senior Vice President – Vice President – Deputy Corporate Tax Airport Customer Service Doug Blissit General Counsel and Vice President – Secretary Todd G. Helvie Delta Subsidiaries Network Analysis Senior Vice President Dan A. Lewis W. E. (Skip) Barnette and Treasurer Walter A. Brill Vice President – Corporate President – ASA Holdings, Joseph C. Kolshak Vice President – Deputy Communications Inc., and Atlantic Southeast General Counsel Senior Vice President Rob Maruster Airlines, Inc. and Chief of Operations Robert T. Cirulnick Vice President – Airport Fred Buttrell Lee A. Macenczak Vice President – Chief Customer Service – Atlanta President – Comair Holdings, Accounting Officer Worldport Senior Vice President LLC & Comair, Inc. and Chief Customer Aaron Dent James V. Maucere Jeffrey T. Fisher Service Officer Vice President – Supply Vice President – Maintenance Vice President Paul G. Matsen Chain Management Operations Delta Connection, Inc. Senior Vice President and Pamela Elledge Patrice G. Miles Joanne D. Smith Chief Marketing Officer Vice President – Sales Vice President – Consumer President – Song™ Gregory L. Riggs and Distribution Marketing Senior Vice President – Carolyn Ezzell Jerome Miller General Counsel and Chief Vice President – Airport Vice President – Global Corporate Affairs Officer Customer Service – East Diversity and Community Jorge L. Fernandez Affairs Vice President – International and Alliances Board of Directors Edward H. Budd David R. Goode Gerald Grinstein Arthur E. Johnson Karl J. Krapek Retired Chairman Chairman of the Board Chief Executive Officer, Senior Vice President, Retired President of the Board and Chief and Chief Executive Delta Air Lines, Inc. Corporate Strategic and Chief Operating Executive Officer, The Officer, Norfolk Development, Officer, United Travelers Corporation Southern Corporation Lockheed Martin Technologies Corporation Corporation DELTA AIR LINES DELTA 2004 ANNUAL REPORT 3 Paula Rosput Reynolds John F. Smith, Jr. Joan E. Spero Kenneth B. Woodrow Chairman of the Board, Retired Chairman President, Doris Duke Retired Vice Chairman President and Chief of the Board and Charitable Foundation and President, Executive Officer, Chief Executive Target Corporation AGL Resources, Inc. Officer, General Motors Corporation Board Committees Finance Representative of Air Line Dale C. Williams effective April 1, 2005 John F. Smith, Jr., Chair Pilots Association, In-Flight Service Edward H. Budd International Audit Doug Pincu David R. Goode Kenneth C. Rogers Edward H. Budd, Chair Reservation Sales and Arthur E. Johnson Associate Non-Voting Member John F. Smith, Jr. City Ticket Offices Joan E. Spero Karl J. Krapek of the Board of Directors Christopher L. Muise Kenneth B. Woodrow Personnel & Compensation Delta Board Council Supervisory and Corporate Governance David R. Goode, Chair Representatives Administrative Joan E. Spero, Chair Edward H. Budd Larry J. Stites Jack Roth Karl J. Krapek Arthur E. Johnson Airport Customer Service Technical Operations Paula Rosput Reynolds Paula Rosput Reynolds and Air Logistics John F. Smith, Jr. Kenneth B. Woodrow >> GLOBAL DIVERSITY + COMMUNITY AFFAIRS 4 Our Global Diversity and Community Affairs commitment enhances and leverages our diverse workforce for organizational effectiveness. We have strong relationships with community and nonprofit organizations. Delta is a generous company known for more than its financial A Spirit of Inclusion contributions. Our giving often includes executive leadership, One of the keys to Delta’s future success is its commitment to employee volunteers who contribute thousands of hours of their diversity. Delta believes diversity is the culmination of the best time each year, in-kind donations and other forms of community of various backgrounds, points of view and experiences, working support. Since 2000, more than 4,000 Delta employees have together to create and deliver unprecedented value to our customers. assisted with Habitat for Humanity projects and more than 3,000 employees participated in a variety of fundraising walks. In fact, We are committed to building a workforce with a sense of inclusion in 2004, over 5,000 Delta employees worked as volunteers for at heart. Inclusion not only has relevance at the individual level, nonprofit organizations, providing the equivalent of $2 million to it influences our relationships with our corporate and community the community. partners as well. By understanding and pursuing the goal of an inclusive workforce, we strengthen Delta’s competitive advantage Delta has a long history as a trusted community steward and and our ability to provide value to our stakeholders. good corporate citizen. We will build on that reputation as we grow our relationships with organizations such as the United Diversity Education Tools: A vital ingredient of our diversity initiative Way, the American Red Cross, March of Dimes and Habitat for is our commitment to employee growth. In 2004, Delta began a Humanity. We will also help ensure that our people – our key program that provides comprehensive educational tools to our asset – continue to
Recommended publications
  • IATA CLEARING HOUSE PAGE 1 of 21 2021-09-08 14:22 EST Member List Report
    IATA CLEARING HOUSE PAGE 1 OF 21 2021-09-08 14:22 EST Member List Report AGREEMENT : Standard PERIOD: P01 September 2021 MEMBER CODE MEMBER NAME ZONE STATUS CATEGORY XB-B72 "INTERAVIA" LIMITED LIABILITY COMPANY B Live Associate Member FV-195 "ROSSIYA AIRLINES" JSC D Live IATA Airline 2I-681 21 AIR LLC C Live ACH XD-A39 617436 BC LTD DBA FREIGHTLINK EXPRESS C Live ACH 4O-837 ABC AEROLINEAS S.A. DE C.V. B Suspended Non-IATA Airline M3-549 ABSA - AEROLINHAS BRASILEIRAS S.A. C Live ACH XB-B11 ACCELYA AMERICA B Live Associate Member XB-B81 ACCELYA FRANCE S.A.S D Live Associate Member XB-B05 ACCELYA MIDDLE EAST FZE B Live Associate Member XB-B40 ACCELYA SOLUTIONS AMERICAS INC B Live Associate Member XB-B52 ACCELYA SOLUTIONS INDIA LTD. D Live Associate Member XB-B28 ACCELYA SOLUTIONS UK LIMITED A Live Associate Member XB-B70 ACCELYA UK LIMITED A Live Associate Member XB-B86 ACCELYA WORLD, S.L.U D Live Associate Member 9B-450 ACCESRAIL AND PARTNER RAILWAYS D Live Associate Member XB-280 ACCOUNTING CENTRE OF CHINA AVIATION B Live Associate Member XB-M30 ACNA D Live Associate Member XB-B31 ADB SAFEGATE AIRPORT SYSTEMS UK LTD. A Live Associate Member JP-165 ADRIA AIRWAYS D.O.O. D Suspended Non-IATA Airline A3-390 AEGEAN AIRLINES S.A. D Live IATA Airline KH-687 AEKO KULA LLC C Live ACH EI-053 AER LINGUS LIMITED B Live IATA Airline XB-B74 AERCAP HOLDINGS NV B Live Associate Member 7T-144 AERO EXPRESS DEL ECUADOR - TRANS AM B Live Non-IATA Airline XB-B13 AERO INDUSTRIAL SALES COMPANY B Live Associate Member P5-845 AERO REPUBLICA S.A.
    [Show full text]
  • Attachment F – Participants in the Agreement
    Revenue Accounting Manual B16 ATTACHMENT F – PARTICIPANTS IN THE AGREEMENT 1. TABULATION OF PARTICIPANTS 0B 475 BLUE AIR AIRLINE MANAGEMENT SOLUTIONS S.R.L. 1A A79 AMADEUS IT GROUP SA 1B A76 SABRE ASIA PACIFIC PTE. LTD. 1G A73 Travelport International Operations Limited 1S A01 SABRE INC. 2D 54 EASTERN AIRLINES, LLC 2I 156 STAR UP S.A. 2I 681 21 AIR LLC 2J 226 AIR BURKINA 2K 547 AEROLINEAS GALAPAGOS S.A. AEROGAL 2T 212 TIMBIS AIR SERVICES 2V 554 AMTRAK 3B 383 Transportes Interilhas de Cabo Verde, Sociedade Unipessoal, SA 3E 122 MULTI-AERO, INC. DBA AIR CHOICE ONE 3J 535 Jubba Airways Limited 3K 375 JETSTAR ASIA AIRWAYS PTE LTD 3L 049 AIR ARABIA ABDU DHABI 3M 449 SILVER AIRWAYS CORP. 3S 875 CAIRE DBA AIR ANTILLES EXPRESS 3U 876 SICHUAN AIRLINES CO. LTD. 3V 756 TNT AIRWAYS S.A. 3X 435 PREMIER TRANS AIRE INC. 4B 184 BOUTIQUE AIR, INC. 4C 035 AEROVIAS DE INTEGRACION REGIONAL 4L 174 LINEAS AEREAS SURAMERICANAS S.A. 4M 469 LAN ARGENTINA S.A. 4N 287 AIR NORTH CHARTER AND TRAINING LTD. 4O 837 ABC AEROLINEAS S.A. DE C.V. 4S 644 SOLAR CARGO, C.A. 4U 051 GERMANWINGS GMBH 4X 805 MERCURY AIR CARGO, INC. 4Z 749 SA AIRLINK 5C 700 C.A.L. CARGO AIRLINES LTD. 5J 203 CEBU PACIFIC AIR 5N 316 JOINT-STOCK COMPANY NORDAVIA - REGIONAL AIRLINES 5O 558 ASL AIRLINES FRANCE 5T 518 CANADIAN NORTH INC. 5U 911 TRANSPORTES AEREOS GUATEMALTECOS S.A. 5X 406 UPS 5Y 369 ATLAS AIR, INC. 50 Standard Agreement For SIS Participation – B16 5Z 225 CEMAIR (PTY) LTD.
    [Show full text]
  • The Value of Monroe Energy, Llc for Delta Air Lines, Inc. Amid a Bearish
    A Work Project presented as part of the requirements for the Award of a Master Degree in Finance from the NOVA – School of Business and Economics. DELTA AIR LINES, INC. FLYING HIGH IN A COMPETITIVE INDUSTRY an Equity Research Report on Delta Air Lines, Inc. (DAL: NYSE) FRANCISCO SEQUEIRA DE PAIVA MARTINS DA SILVA STUDENT NUMBER 33897 PEDRO MANUEL CORREIA PEREIRA STUDENT NUMBER 33968 A Project carried out on the Master’s in Finance Program, under the supervision of: Professor Rosário André January 3rd, 2020 Abstract This equity research report will first be focusing on the North American Arline industry, analyzing its current form, as well as looking at industry’s opportunities and threats ahead. On top of this, an outlook over the airline industry will also be presented in order to give the investors an accurate view of the present and the future. A further analysis will then be conducted with regards do Delta Air Lines Inc. (DAL:NYSE), applying the previous research to provide a fair valuation for the group, resulting in an sustained recommendation of whether an investor should consider invest in DAL, or not. Keywords Delta Air Lines, Inc.; Airline; Equity Research; Valuation This work used infrastructure and resources funded by Fundação para a Ciência e a Tecnologia (UID/ECO/00124/2013, UID/ECO/00124/2019 and Social Sciences DataLab, Project 22209), POR Lisboa (LISBOA-01-0145-FEDER-007722 and Social Sciences DataLab, Project 22209) and POR Norte (Social Sciences DataLab, Project 22209). MASTERS IN FINANCE EQUITY RESEARCH DELTA AIR LINES, INC. COMPANY REPORT AIR TRANSPORTATION - AIRLINES JANUARY 3RD, 2020 STUDENTS: FRANCISO SILVA / PEDRO PEREIRA [email protected] / [email protected] Flying High In A Competitive Industry During the first 9-months of 2019, solid demand for air travel supported a 6.4% Recommendation: STRONG BUY growth of passenger revenue for Delta Air Lines, Inc.
    [Show full text]
  • March 2018 REFLECTIONS the Newsletter of the Northwest Airlines History Center Dedicated to Preserving the History of a Great Airline and Its People
    Vol.16, no.1 nwahistory.org facebook.com/NorthwestAirlinesHistoryCenter March 2018 REFLECTIONS The Newsletter of the Northwest Airlines History Center Dedicated to preserving the history of a great airline and its people. NORTHWEST AIRLINES 1926-2010 ______________________________________________________________________________________________________ THE QUEEN OF THE SKIES Personal Retrospectives by Robert DuBert It's hard to believe that they are gone. Can it be possible that it was 50 years ago this September that this aircraft made its first public appearance? Are we really all so, ahem, elderly that we Photo: True Brand, courtesy Vincent Carrà remember 1968 as if it were yesterday? This plane had its origins in 1964, when Boeing began work on a proposal for the C-5A large military airlifter contract, and after Lockheed won that contest, Boeing considered a commercial passenger version as a means of salvaging the program. Urged on by Pan Am president Juan Trippe, Boeing in 1965 assigned a team headed by Chief Engineer Joe Sutter to design a large new airliner, although Boeing at the time was really more focused on its supersonic transport (SST) program. A launch customer order from Pan Am on April 13, 1966 for twenty five aircraft pushed Sutter's program into high gear, and in a truly herculian effort, Joe Sutter and his Boeing team, dubbed “The Incredibles,” brought the program from inception on paper to the public unveiling of a finished aircraft in the then unheard of time of 29 months. We're talking, of course, about the legendary and incomparable Boeing 747. THE ROLLOUT It was a bright, sunny morning on Monday, Sept.
    [Show full text]
  • TX-NR727 Table of Contents
    Contents AV RECEIVER Safety Information and Introduction ............2 TX-NR727 Table of Contents...........................................6 Connections .................................................12 Turning On & Basic Operations..................21 Instruction Manual Playback........................................................29 Advanced Operations ..................................52 Controlling Other Components...................76 Appendix.......................................................82 Internet Radio Guide Remote Control Codes En Safety Information and Introduction 9. Do not defeat the safety purpose of the polarized B. If liquid has been spilled, or objects have fallen or grounding-type plug. A polarized plug has two into the apparatus, WARNING: blades with one wider than the other. A grounding C. If the apparatus has been exposed to rain or TO REDUCE THE RISK OF FIRE OR ELECTRIC type plug has two blades and a third grounding water, SHOCK, DO NOT EXPOSE THIS APPARATUS TO RAIN prong. The wide blade or the third prong are D. If the apparatus does not operate normally by OR MOISTURE. provided for your safety. If the provided plug does following the operating instructions. Adjust CAUTION: not fit into your outlet, consult an electrician for only those controls that are covered by the TO REDUCE THE RISK OF ELECTRIC SHOCK, DO NOT replacement of the obsolete outlet. operating instructions as an improper REMOVE COVER (OR BACK). NO USER-SERVICEABLE 10. Protect the power cord from being walked on or adjustment of other controls may result in PARTS INSIDE. REFER SERVICING TO QUALIFIED pinched particularly at plugs, convenience damage and will often require extensive work SERVICE PERSONNEL. receptacles, and the point where they exit from by a qualified technician to restore the the apparatus. apparatus to its normal operation, 11.
    [Show full text]
  • David Siegel, CEO, US Airways
    A MAGAZINE FOR AIRLINE EXECUTIVES OCTOBER 2003 T a k i n g y o u r a i r l i n e t o n e w h e i g h t s EXTREME AIRLINE MANAGEMEN T A conversation with … David Siegel, CEO, US Airways INSID E Traditional carriers launch low-fare subsidiaries How airlines weathered "the perfect storm" Cathay Pacific Airways’ crisis management process © 2009 Sabre Inc. All rights reserved. [email protected] industry industry – and a growing percentage in Europe carriers that have started their own five destinations with a fleet of four they also have key differences in the way An and Asia/Pacific as well – traditional car- low-cost airline. Airbus A320 aircraft. And Delta, with they operate. While both have a single riers have been forced to take extreme Despite a checkered history of such Song, and bmi, with bmibaby, have fleet type, Song uses larger 757s com- measures to deal with the growing offshoots, in the past couple of years, sev- used their low-cost subsidiaries pared to bmibaby’s 737s. Song also has Inside threat. The low-cost carriers have put eral airlines have launched, or announced to aggressively compete in their maintained the pay scale of the parent tremendous pressure on traditional plans for, low-cost subsidiaries. Air Canada dominant markets. airline while bmibaby forged complete By B. Scott Hunt and Job network carriers to cut costs in order has launched Tango and Zip. Qantas is Although some consider such new labor agreements. Each also offers Stephani Hawkins | Ascend Editors to compete with the LCCs and match now examining the possibility of launch- endeavors risky, early returns have been different amenities to its customers.
    [Show full text]
  • Derivatives Supply and Corporate Hedging: Evidence from the Safe Harbor Reform of 2005
    Derivatives Supply and Corporate Hedging: Evidence from the Safe Harbor Reform of 2005 Erasmo Giambona Ye Wang Syracuse University, Whitman School Shanghai University of Finance and of Management Economics [email protected] [email protected] This Draft: September 1, 2017 Abstract This paper analyzes the importance of supply-side frictions for corporate hedging. To identify this relationship, we exploit a regulatory change that allows derivatives counterparties to circumvent the Bankruptcy Code’s automatic stay and preference rules: The Safe Harbor Reform of 2005. Following the reform-induced expansion in the availability of derivatives, fuel hedging of airlines near financial distress (those that benefited the most from the reform) increased significantly relative to financially sound airlines. Similarly, we find that hedging propensity increased for a general sample of non-financial firms. In line with theory, we also find that firm’s value and performance increased after the 2005 reform for the affected firms. Our analysis provides also evidence consistent with unsecured creditor “runs”. Keywords: supply-side frictions, safe harbor reform, fuel hedging, airlines, firm's value, unsecured creditor runs. * Erasmo Giambona, Michael J. Falcone Chair of Real Estate Finance, Syracuse University, 721 University Avenue, Syracuse, NY 13244-2450, USA. Ye Wang, Shanghai University of Finance and Economics, 777 Guoding Road, Shanghai, Shanghai 200433, China. We are grateful for comments from Murillo Campello and seminar participants at the University of Amsterdam. 1. Introduction Economic theory suggests that firms hedge to mitigate credit rationing (Froot, Scharfstein, and Stein, 1993; Holmström and Tirole, 2000), to reduce information asymmetry (DeMarzo and Duffie, 1991, 1995; Breeden and Viswanathan, 2016), or to alleviate the risk of financial distress (Smith and Stulz, 1985; Stulz, 2013).
    [Show full text]
  • Florida Tech's International Diversity Develops Global
    FLORIDA TECH’S INTERNATIONAL DIVERSITY DEVELOPS GLOBAL CITIZENS ONE BIG QUESTION “IS MY SMART TV SPYING ON ME?" Florida Tech TODAY | 1 In This Issue SPRING 2017 • Volume 26, Issue 1 Departments Features President’s Message...........4 17 Is My Smart TV Spying on Me? On Campus...................5 Heather Crawford discusses the delicate balance between consumer privacy and A Closer Look.................10 technological progress. Etc. .13 Athletics .....................14 18 Cultural Charisma First Person.................38 Florida Tech’s international experience is ubiquitous—benefiting our international population and domestic students alike—through cross-cultural programs and events and that small-town, close-knit feel that means you can’t help but develop a shared sense of Panther pride. 24 Style and Substance A week in the luxurious world of Elizabeth Webbe Lunny ’93, vice president of style for The New York Times and publisher of T Magazine, may include everything from a fashion show in Milan to lunch with Ralph Lauren in New York City. GO GREEN, GET ONLINE! 27 Student Design Find expanded coverage, Showcasing the innovative designs and research insights of Florida Tech students. photos and videos at: today.fit.edu 2 OYSTER MATS Florida Tech’s Indian River Lagoon Research Institute invited community volunteers to make oyster mats on campus for an Earth Day project. The mats will be deployed in the Indian River Lagoon as part of the Living Docks program to promote the growth of filter-feeding organisms such as oysters, sponges, barnacles and tunicates along boat docks and sea walls. TODAY http://today.fit.edu Florida Institute of Technology PRESIDENT T.
    [Show full text]
  • Essays on Strategic Behavior in the U.S. Airline Industry
    Essays on Strategic Behavior in the U.S. Airline Industry Dissertation Presented in Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy in the Graduate School of The Ohio State University By Kerria Measkhan Tan, B.A., M.A. Graduate Program in Economics The Ohio State University 2012 Dissertation Committee: Matthew Lewis, Advisor James Peck Huanxing Yang c Copyright by Kerria Measkhan Tan 2012 Abstract In my first dissertation essay, \Incumbent Response to Entry by Low-Cost Carri- ers in the U.S. Airline Industry," I analyze the price response of incumbents to entry by low-cost carriers in the U.S. airline industry. Previous theoretical papers suggest that airlines might respond to entry by lowering prices to compete harder for existing customers or they might increase prices to exploit their brand-loyal customers. This paper tests which effect is more prominent in the airline industry. I find that when one of four low-cost carriers enters a particular route, legacy carrier incumbents respond differently than low-cost carrier incumbents to new low-cost carrier entry. Legacy carriers decrease their mean airfare, 10th percentile airfare, and 90th percentile air- fare before and after entry by a low-cost carrier. However, low-cost carriers do not significantly alter their pricing strategy. The differing incumbent responses can be attributed to the finding that low-cost carrier entrants tend to match the price set by rival low-cost carriers in the quarter of entry and tend to enter with a lower price than that of legacy carrier incumbents. The results also suggest that entry does not affect price dispersion by incumbent carriers.
    [Show full text]
  • Delta Air Lines Inc /De
    DELTA AIR LINES INC /DE/ FORM 10-K (Annual Report) Filed 02/15/08 for the Period Ending 12/31/07 Address HARTSFIELD ATLANTA INTL AIRPORT 1030 DELTA BLVD ATLANTA, GA 30354-1989 Telephone 4047152600 CIK 0000027904 Symbol DAL SIC Code 4512 - Air Transportation, Scheduled Industry Airline Sector Transportation Fiscal Year 12/31 http://www.edgar-online.com © Copyright 2015, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. Table of Contents Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2007 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-5424 DELTA AIR LINES, INC. (Exact name of registrant as specified in its charter) Delaware 58 -0218548 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Post Office Box 20706 Atlanta, Georgia 30320 -6001 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (404) 715-2600 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, par value $0.0001 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
    [Show full text]
  • Final Environmental Assessment Volume I ______
    _________________________________________ FINAL ENVIRONMENTAL ASSESSMENT VOLUME I _________________________________________ Replacement Passenger Terminal and Enabling Projects Des Moines International Airport Des Moines, Iowa Prepared for Des Moines Airport Authority And U.S. Department of Transportation Federal Aviation Administration As lead Federal Agency pursuant to the National Environmental Policy Act of 1969 Prepared by: RS&H Iowa, P.C. June 2019 This Environmental Assessment becomes a Federal document when evaluated, signed and dated by the Responsible Federal Official. ___________________________________ _________________ Responsible Federal Official Date THIS PAGE INTENTIONALLY LEFT BLANK TABLE OF CONTENTS TABLE OF CONTENTS VOLUME I Chapter 1 Introduction and Proposed Action ...................................................................................................................... 1-1 1.1 Airport Overview ......................................................................................................................................................... 1-1 1.2 Passenger Terminal Building Background ........................................................................................................ 1-4 1.3 Proposed Action .......................................................................................................................................................... 1-5 1.3.1 Phasing ....................................................................................................................................................................
    [Show full text]
  • Delta Air Lines Inc /De
    DELTA AIR LINES INC /DE/ FORM 10-K (Annual Report) Filed 09/27/94 for the Period Ending 06/30/94 Address HARTSFIELD ATLANTA INTL AIRPORT 1030 DELTA BLVD ATLANTA, GA 30354-1989 Telephone 4047152600 CIK 0000027904 Symbol DAL SIC Code 4512 - Air Transportation, Scheduled Industry Airline Sector Transportation Fiscal Year 12/31 http://www.edgar-online.com © Copyright 2015, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. DELTA AIR LINES INC /DE/ FORM 10-K (Annual Report) Filed 9/27/1994 For Period Ending 6/30/1994 Address HARTSFIELD ATLANTA INTL AIRPORT 1030 DELTA BLVD ATLANTA, Georgia 30354-1989 Telephone 404-715-2600 CIK 0000027904 Industry Airline Sector Transportation Fiscal Year 12/31 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended June 30, 1994 OR [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] Commission file number 1-5424 DELTA AIR LINES, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) DELAWARE 58-0218548 ------------------------- ----------------------------- (STATE OR OTHER JURISDICTION (I.R.S. EMPLOYER IDENTIFICATION NO.) OF INCORPORATION OR ORGANIZATION) HARTSFIELD ATLANTA INTERNATIONAL AIRPORT ATLANTA, GEORGIA 30320 - ---------------------------------------- ---------- (ADDRESS OF PRINCIPAL EXECUTIVE (ZIP CODE) OFFICES) REGISTRANT'S
    [Show full text]