Delta is grounded to reality!

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Delta Air Lines Inc. came out of bankruptcy, aft er being in a rigorous and efficient 19- month, $3 billion restructuring process, during which the carrier let down a hostile takeover, cut down its costs and jobs, and abolished some unprofitable routes. This third-largest airline of the United States also added some 60 international routes in its portfolio to counteract atrociously low-cost competition in the US market. The emergence from bankruptcy is not the end of a journey; instead, it is the beginning of a new and prosperous era at Delta. Along with peer airline companies like United and Northwest, the airline company was facing the heat of financial crises after the 9/11 attacks. The debacle lead to a lower propensity to fly among the American travellers, due to fears of a similar eventuality. “Many challenges are ahead, and thanks to our successful restructuring, we are stronger and better positioned to meet them,” Delta Chief Executive Officer, Gerald Grinstein boasted.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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