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BULLETIN: Delta Air Lines Unveils New Low-Cost Unit Nov 02
Standard & Poors, Nov 2002
Abstract
Delta Air Lines Inc. (BB/Negative/--) announced plans for a new low-cost unit to replace its current Delta Express operation. Standard & Poor's Ratings Services said its ratings and outlook on the company are not affected. Delta plans to set up a separate subsidiary (as yet unnamed) that will use B757-200 aircraft in single-class configuration, operated in a manner and providing service in many respects similar to those of low-cost airlines such as Southwest Airlines Co., initially mostly on routes between the Northeast and Florida. In contrast to Delta Express, pay scales for the dedicated employees will not be subject to a separate, concessionary pay scale. Accordingly, the targeted lower costs (20% below those of Delta's other B757-200 flights; less than...
Companies mentioned in this report are: Delta Air Lines Inc.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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