Gerald Grinstein
Gerald Grinstein
GeraldGrinsteinis an American businessman, the former Chief Executive Officerof Delta Air Lines. He was CEO of Burlington Northern Railroad from 1985 to 1995, and joined Delta's board of directors in 1987. He became CEO of Delta in 2004, a time of financial crisis for the airline. After overseeing the firm's survival through bankruptcy and implementing a restructuring program, he retired as CEO in 2007...
among catch company gave good
I think the whole company gave it a good shot, ... But there were some things we just couldn't catch up with, and among those was fuel.
assure business delta open
I want to assure you. Delta is open for business as usual.
assets continue continuing delta face factors financial fuel future hard identify including market operations outside position pressures secure steps strengthen takes
As Delta takes steps to secure its future as a competitive airline, we will continue to take a hard look at all of our operations and assets to identify opportunities to strengthen our financial position in the face of continuing market pressures and factors outside of our control, including fuel prices.
event hours strike survive wait
And in the event a strike is not enjoined, we would not wait 48 hours; we can't survive 24 hours of a strike.
ahead
I do think consolidation is ahead for our industry.
additional agreement appreciate critical delta efforts employees financial given greatly help including nature needed network pilots progress provides reach relief sacrifices save seek
Given the critical nature of our financial situation, this provides much needed financial relief while we seek to reach a comprehensive agreement with ALPA. We greatly appreciate the additional sacrifices Delta employees - including our pilots - are making to help save the company. Working together, everyone's efforts are contributing to the operational progress and network improvements being made under the company's transformation plan.
call effect operations work
If we had a work stoppage that had a substantial effect on our operations for 48 hours, they have the right to call the loans, and I think they would call them.
action address business challenges confident continue customers delta financial necessary normal number open operations partners plans preserve priority remain secure step taken throughout travel usual value work
The action we have taken is a necessary and responsible step to preserve Delta's value for our creditors, customers, employees, business partners and other stakeholders as we address our financial challenges and work to secure our future, ... Delta is open for business as usual and will continue normal operations throughout the reorganization process. Our customers can be confident that they remain our number one priority and that their travel plans and SkyMiles are secure.
action address business challenges financial necessary partners secure step taken work
The action we have taken is a necessary and responsible step for our creditors, customers, employees, business partners and other stakeholders, as we address our financial challenges and work to secure our future.
begin delta fragile future good leverage somewhere time
Delta is fragile ... and it is not a good time to begin a consolidation discussion. The only time to do that is when you have leverage and strength. So that may be somewhere out in the future but that's not now.
painless
There is no painless way out of this,
avoid fast hard
We're working hard and fast to avoid it,
additional increased layoffs painless pay recognize work
We have to recognize this is not going to be a painless process. There will be additional layoffs ... There is going to be some pay pain. There will be increased work burdens.
company plan survive
We would not be successful. I don't think the company could survive that and we would not plan to try.