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Delta & NW Airlines... Chapter 11!?!

Discussion in 'Off Topic [BG]' started by j-raj, Sep 14, 2005.


  1. j-raj

    j-raj Bassist: Educator/Soloist/Performer Staff Member Supporting Member

    Jan 14, 2003
    Atlanta, GA!
  2. Gard

    Gard Commercial User

    Mar 31, 2000
    Greensboro, NC, USA
    General Manager, Roscoe Guitars
    Oh man...what a drag. My father is retired from Delta, it's really sad to see this.

    I know that they were in trouble, but here's something that really just P!$$E$ me off:

    "The final cash crisis came when the bank that was processing the airline's Visa and MasterCard ticket purchases started holding back money as protection in case of a bankruptcy filing. The airline warned in August that such a move by the bank could cost $650 million by the end of October, straining its already thin cash reserves."

    Ok, so, let me see if I've got this right - the airline sold tickets, the purchasers paid with their credit cards, and the CC processing company did not pay Delta the money that was rightfully due them?

    :mad:

    If that's legal, it's really a sign that the credit card companies run this country.

    :scowl:

    Outrageous.
     
  3. j-raj

    j-raj Bassist: Educator/Soloist/Performer Staff Member Supporting Member

    Jan 14, 2003
    Atlanta, GA!
    I'm watching FOX News ATL at the moment and they are saying that at the passenger-level there shouldn't be any immediate change, Sky miles too.

    I'm guessing that the pilot's union and retirees are going to definitely feel this. I hope that Delta can pull out of this!