Delta Prepares to Crash and Burn

Meanwhile, « badly mismanaged Delta Air Lines reports that it is running out of cash »:

‘Delta Air Lines, which is struggling to avoid a bankruptcy filing, said yesterday that it expected to lose as much as $675 million for the third quarter and that it was using cash at a steep rate. The news from Delta, reported in a regulatory filing, renewed speculation that the airline could seek bankruptcy protection as soon as late October. If that happens, half the country’s old-line air carriers would be in bankruptcy proceedings.’

In other words, the executives at Delta, who have horribly mismanaged the airline for decades, are about to sneak into bankruptcy court and smash the unions.

Sad. So very sad.