From Reuters:
"At the end of June, Delta had $1.7 billion in cash, cash equivalents and short-term investments. But the company estimates payments for leases, interest capital expenses, and pension obligations would total at least $2 billion through December."
So? If Delta were to stop operations and go to zero revenue then there really would be a problem. What they failed to include in that little paragraph is what are their expected revenues through December.
I expect to have around $25k in housing, insurance, food and auto costs through December with only around $1500 in cash, does that mean I'm bankrupt? It depends on what I expect to bring in.
Once again we can see how the corporate owned press acts as a spin machine for the airlines.
$1.7billion in cash yet they are broke? BS. The airlines never had such high liquidity requirements before, the banks are simply working with the airlines to slash wages.
"At the end of June, Delta had $1.7 billion in cash, cash equivalents and short-term investments. But the company estimates payments for leases, interest capital expenses, and pension obligations would total at least $2 billion through December."
So? If Delta were to stop operations and go to zero revenue then there really would be a problem. What they failed to include in that little paragraph is what are their expected revenues through December.
I expect to have around $25k in housing, insurance, food and auto costs through December with only around $1500 in cash, does that mean I'm bankrupt? It depends on what I expect to bring in.
Once again we can see how the corporate owned press acts as a spin machine for the airlines.
$1.7billion in cash yet they are broke? BS. The airlines never had such high liquidity requirements before, the banks are simply working with the airlines to slash wages.