Since last September, Delta Air Lines has declared in U.S. bankruptcy court that it needs additional wage concessions from pilots, represented by the Delta Union Master Executive Council (MEC), which is part of the Air Lines Pilot Association, Inc. (ALPA). The preliminary agreement must first be approved by the MEC, then ratified by the pilots and finally approved by the bankruptcy court. If Delta Air, under judicial protection, had refused the contract, the pilots had already voted in favor of authorizing a strike. Chip Childs, Chief Executive Officer and President of SkyWest, commented on the agreements as I said: ”We are pleased to further strengthen our Delta partnership with the addition of these two-speed aircraft. We believe that placing these aircraft in Western platforms will help us further improve our overall efficiency and product. ” – Addition of six used E175s as part of a multi-year flight contract with Delta Air Lines starting in early 2020; Delta makes the aircraft available The pilots` agreement provides in principle that if an extension of the CARES Act is approved under the same conditions as the initial recovery plan, the agreement will be suspended. Delta pilots have played a crucial role in Delta Air Lines` historic profitability in 2019 and look forward to the negotiation of a modified agreement recognizing the pilot group`s contribution to the company`s success. The provisional agreement does not mean that everything is settled. Reports indicate that while the agreement covers salaries, it does not address some issues, including benefits and planning. The union is in no hurry to approve the provisional agreement. Negotiations are being watched at other airlines and by Wall Street, which is looking for an indication of the extent to which a new contract will increase Delta`s spending.
Delta said Tuesday it earned $US 4.8 billion last year, pushing its profit to about $US 34 billion since early 2010. In addition to historical information, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as ”forecasts”, ”expect”, ”intend”, ”believe”, ”estimate”, ”should”, ”likely” and similar expressions characterize forward-looking statements. Such statements, but are not limited to, making statements about the continued demand for our product, the potential benefits arising from the sale of ExpressJet, including reduced risks, increased flexibility, efficiency and improved positioning for market opportunities, the expected growth of our business with Delta and other important partners in certain markets, aircraft deliveries expected for SkyWest Airlines in the coming years and the resulting distance from service and/or entry into service of certain aircraft, the expected conditions, timing and benefits related to SkyWest`s leasing and joint venture operations, and future financial and operating results, SkyWest`s plans, objectives, expectations, estimates, intentions and prospects and other statements that are not historical. All forward-looking statements contained in this press release speak for themselves at the time of this press release and are based on information available to skyWest as of that date. SkyWest does not undertake to update any forward-looking statements for any reason. Readers should keep in mind that many factors affect SkyWest`s future operating and financial results and may cause actual results to differ materially from those expressed in the forward-looking statements in this press release. These factors include the prospect of entering into agreements with existing or other air carriers to fly new aircraft, ongoing negotiations between SkyWest and its key partners on their contractual obligations, uncertainties regarding the operation of new aircraft, the ability to attract and retain qualified pilots, the impact of regulatory issues such as pilot safety rules and ualification. the possibility of obtaining aeronautical financing. .