Ed Bastian
Ed Bastian
ability annual believe benefits billion business card community confidence continue cost credit delivering delta enables environment execute expect facility financial focused freeing fuel full further high included indication intense interest investors letter management necessary obtain plan portion prices provided remain reserve revenue strong support terms vote work year
The incremental liquidity provided by this letter of credit in freeing up a portion of the credit card reserve enables Delta to continue the necessary work of restructuring our company. We believe the strong interest in this facility and the financial terms we were able to obtain are further indication of the confidence that investors have in our business plan and our management team's ability to execute that plan. Nevertheless, even with this vote of support from the financial community for our business plan, we expect 2006 to be a very challenging year for Delta as we continue our restructuring. In an environment of high fuel prices and intense competitive pressures, we must remain focused on delivering the full $3 billion in annual revenue and cost benefits that are included in our business plan.
assets borrowing capacity
Our borrowing capacity has been completely exhausted. We have no more assets to pledge.