Could bad labor relations be a reason to block a potential airline acquisition in Europe? That’s the direction things may be headed, and I must admit, I think it’s a pretty smart argument to make. Let’s start with some background, and then tie it in to current events…
In this post:
Contrasting Air France & Lufthansa labor relations
Lufthansa Group CEO Carsten Spohr has to be one of the worst airline leaders in the world when it comes to labor relations. The irony is that Spohr is a former Lufthansa pilot, so you’d think he’d appreciate the value in good labor relations. But I guess once he made the switch to management, he lost respect for the profession.
Last week, Lufthansa Group saw back-to-back-to-back strikes, by pilots, then flight attendants, and then pilots again. Rather than trying to negotiate and find common ground, Lufthansa Group management has only made matters worse, by essentially shutting down one of its subsidiaries overnight, to punish employees and play hardball.
It amazes me that Spohr still has his job. He’s not great at labor relations, and he also doesn’t seem great at actually leading the airline group’s flagship carrier in the right direction, given that it’s the least profitable airline in the group.
What’s going on at Lufthansa Group is such a contrast to Air France-KLM. Prior to 2018, labor relations at flagship carrier Air France were horrendous. I mean, in 2015, a protest by employees looked more like January 6, with executives having their shirts ripped off, and scaling a fence to escape.
However, it has been a completely different story since Air France-KLM CEO Ben Smith took over in 2018. Since then, Air France hasn’t seen a single major case of industrial action. Yes, in eight years. That’s beyond remarkable.
I know a lot of anti-union people like to always blame unions for the kind of unrest, and for being unreasonable, while giving management a pass. Yes, unions can be challenging. But I think the perfect counterpoint to that is what we’ve seen at Air France. Air France has gone from worst to first when it comes to labor relations in Europe, so how is that possible?
Well, Smith has a deep respect for employees, he’s a huge aviation geek (which employees very much respect), and he fundamentally views labor and management as being collaborative, rather than at odds with one another. He also understands the value in making strategic investments to make employees happy.
For example, when he started in his role, one of his first orders of business was to eliminate low cost carrier Joon, moving the employees there onto contracts with higher pay. That’s literally the opposite of what we see at Lufthansa Group, where it’s all about forming new subsidiaries in order to cut labor costs, at the expense of existing employees.
Smith’s attitude is essentially “hey, we (management and the employees) want the same thing, which is for the airline to succeed, so how can we come to an agreement where everyone can be happy?” Respect goes a long way, especially in an industry with too many people like Spohr.
Could labor relations play into TAP Air Portugal deal?
Currently, the Portuguese government is trying to privatize national carrier TAP Air Portugal, and both Air France-KLM and Lufthansa Group have expressed interest in investing in the airline group, and are in the running.
However, SPAC, the union representing pilots at TAP, is seriously concerned about the prospect of an acquisition by Lufthansa Group, given the implications for labor relations. I mean, who wouldn’t be?
So Smith is (smartly) trying to capitalize on that concern, and made Air France-KLM’s record on labor relations an argument in favor of such a deal. As he has explained in the context of a TAP deal, and reported by La Tribune Dimanche:
“When I arrived in 2018, my priority was to ease the social climate and establish a level of trust with employees that didn’t exist within the company. The preceding years had been marked by numerous strikes that had cost the company 1 billion euros.”
Honestly, that’s a really good argument. If the Portuguese government has any concern for its employees or operational reliability at the airline, how could they possibly want to enter a deal with Lufthansa Group right now, when the airline can’t even keep its own planes flying?
Bottom line
Both Air France-KLM and Lufthansa Group are competing to invest in TAP Air Portugal. While there are pros and cons to either deal, there’s one obvious con for Lufthansa Group, which is labor relations. How could a government want to partner on privatization with an airline that has a horrendous record on labor relations, to the point that we see the flagship airline grounded for five days straight, with three different strikes?
While Air France-KLM CEO Ben Smith isn’t trashing Lufthansa Group, he’s smartly bringing up how Air France has now had labor peace for eight consecutive years, and that’s causing TAP Air Portugal pilots to increasingly favor a deal with the SkyTeam airline group.
Do you think labor relations could factor into which direction this deal goes?
It really seems that the CEO of Lufthansa has - despite him being a former pilot himself - a personal issue with his employees. Especially his flying staff in cabin and cockpit. I (and probably everyone except himself) do not know the reasons behind this behaviour. May it be the "win" of the unions in past negotiations, may it be some poisonous connections to the scene of high finance or whatever it might be. I...
It really seems that the CEO of Lufthansa has - despite him being a former pilot himself - a personal issue with his employees. Especially his flying staff in cabin and cockpit. I (and probably everyone except himself) do not know the reasons behind this behaviour. May it be the "win" of the unions in past negotiations, may it be some poisonous connections to the scene of high finance or whatever it might be. I totally agree with the article that this is far from being a good motivation to lead such an employee dependent company like an airline. His dismissal and replacement seems more than due!
Carsten Spohr is the Alan Joyce of Europe!
Benny you should do an article on which we should desire more as points redeemers. Air France redemptions on TAP or Air Canada/Aeroplan/United. I suspect the former? You tell me.
Carsten Spohr must have the most exceptional and comprehensive kompromat on German political and business figures for how he’s able to stay in post despite sheer incompetence, bizarre situations with fans and a downright nasty attitude to employees and pax. I assume he asks for the C means on his commute to have the plastic covers left on…
The comments below have predictably strayed off topic on the usual whichever U.S. Airline is best. Ok! I will throw my ten pence worth of recently published 2026 Customer Satisfaction figures just to muddy the waters:
Top U.S. Airlines in 2026
1. Spirit Airlines — ranked the best overall.
2. Southwest Airlines
3. SkyWest Airlines
4. Alaska Airlines
5. Hawaiian Airlines
6. JetBlue Airways
7. Delta Air Lines
...
The comments below have predictably strayed off topic on the usual whichever U.S. Airline is best. Ok! I will throw my ten pence worth of recently published 2026 Customer Satisfaction figures just to muddy the waters:
Top U.S. Airlines in 2026
1. Spirit Airlines — ranked the best overall.
2. Southwest Airlines
3. SkyWest Airlines
4. Alaska Airlines
5. Hawaiian Airlines
6. JetBlue Airways
7. Delta Air Lines
8. American Airlines
9. Frontier Airlines
10. United Airlines
11. Envoy Air
Eat your hearts out you Big 3, fanboys …. :-)
What the heck is the board of directors doing at this point? Like Spohr or not, the company really needs new blood at the top. It just seems like he is driving LH in the ground. The next step is to sell off the LX to pay the bills.
Why would they sell LX? It’s the most profitable airline in the group. The airline they need to sell is LH. And send Spohr with it.
Of course, the Portuguese government would have an interest in its workers. But, it will also have a reputational interest and an investment interest in its national carrier being well run. I think it's a fair statement to say that "being well run" is more likely to occur under Air France-KLM. And, under Lufthansa, the Portuguese would be Spohr-nicated.
Just look at each suitor's operational execution over the past several years. It's not a tough choice.
As an Hon Circle member it’s been beyond frustrating to experience the destruction of Lufthansa by C Spohr.
Quality has been removed from the First Class lounges and flights, replaced with dishonest marketing spin.
Carsten is a clown. Lufthansa is a poor shadow of its former self. Shame.
And yet you still fly with them enough to be HON. As long as people keep booking tickets, there's little incentive for Lufthansa to improve. Their entire strategy is built on creating a monopoly at select markets.
I do think AF/KLM make the most sense to aquire TAP
Aside from being Star Alliance TAP and LH group don't have much synergy
It does seem like AF/KLM would be more welcoming and treat TP as an equal partner whereas we've seen how LH groups just buys airlines and turns them into Lufthansa (insert country name)
I think TAP could be well suited to moving over to SkyTeam
If they...
I do think AF/KLM make the most sense to aquire TAP
Aside from being Star Alliance TAP and LH group don't have much synergy
It does seem like AF/KLM would be more welcoming and treat TP as an equal partner whereas we've seen how LH groups just buys airlines and turns them into Lufthansa (insert country name)
I think TAP could be well suited to moving over to SkyTeam
If they move over to SkyTeam it would give them a massive boost to their lacking African conx and South America with LATAM and Delta connections it would be a good match
And if so then SkyTeam would have the top of Europe (SAS) and the bottom
Also I think the SkyTeam US/Europe Joint venture is probably the strongest of the 3.
Today, I wish we (in the US) would follow the French in actually fighting for better worker and consumer protections. And yet, more recently, it is the excessive corporate propaganda from our billionaire-owned media has convinced some here to hate unions, regulations, etc. However, they should know it is the tireless efforts of those unions and generations of their members that built the American middle class, achieved the 40-hour work week, minimum wage, weekends, healthcare,...
Today, I wish we (in the US) would follow the French in actually fighting for better worker and consumer protections. And yet, more recently, it is the excessive corporate propaganda from our billionaire-owned media has convinced some here to hate unions, regulations, etc. However, they should know it is the tireless efforts of those unions and generations of their members that built the American middle class, achieved the 40-hour work week, minimum wage, weekends, healthcare, pension and retirement plans, and more. Sure, it can always be better, but let's not make perfect the enemy of good. Real progress takes sustained time and effort. Whether in Europe, US, or elsewhere, I hope these workers get what they're asking for soon.
Tim Dunn calling out someone else for being a mouthpiece is just (unintentionally) hilarious.
just debate the facts.
DL pays its people - union and non-union - above industry average.
DL and AF have great employee relations. Apparently it is a Star alliance thing - UA keeps labor from erupting into strikes in part because US laws make it much harder for airline employees to strike than in Europe but UA employees are substantially underpaid compared to DL employees while in Europe it is LH that keeps trying to...
just debate the facts.
DL pays its people - union and non-union - above industry average.
DL and AF have great employee relations. Apparently it is a Star alliance thing - UA keeps labor from erupting into strikes in part because US laws make it much harder for airline employees to strike than in Europe but UA employees are substantially underpaid compared to DL employees while in Europe it is LH that keeps trying to bust labor through opening and closing subsidiaries.
DL FAs did not wait 5 years to get pay raises; UA's retro - which will increase over last year's accounting charge - does not begin to cover the lost time value of money.
and some people have the gall to think that unions actually are a benefit to US airline employees compared to DL's combined unionized pilot and non-union every one else (essentially) strategies
UA's labor costs will go up and, combined w/ its higher than average fuel costs, their zero growth earnings will add stress to their balance sheet.
LH will be locked in an endless cycle of labor unrest and underperformance until LH Group's board realizes their strategy is not working.
In contrast, UA's strategies are working but their employees pay the price.
Let's hope UA FAs agree to their proposed contract so UA can move onto the mechanics and other labor groups.
Thank you for proving my point.
people who understand the issues are the ones that SHOULD be discussing the issue.
You can't stand that AF and DL understand employee relations; DL generally doesn't throw shade at competitors but Ben Smith is right to comment since the future of TP might depend on it.
Ok, keep shilling. While calling out others for it lol
And it isn’t getting better for Lufthansa…
“Lufthansa cuts 20,000 summer flights as fuel prices surge”
https://www.bbc.com/news/articles/cre1r4n5j5wo
The reported flight cancellations are almost exclusively regional, loss making routes, therefore, some might consider that to be a prudent management strategy, yes Tim?
I couldn’t possibly comment …. :-)
Good for Ben Smith.
It is beyond embarassing for any company to have a track record of such poor labor relations - which includes opening and closing subsidiaries in order to keep costs down - but esp. for a legacy airline that has a virtual monopoly in many major markets of its home countries; addi n the impact on connecting passengers throughout the EU and LH Group's labor relations have got to be considered...
Good for Ben Smith.
It is beyond embarassing for any company to have a track record of such poor labor relations - which includes opening and closing subsidiaries in order to keep costs down - but esp. for a legacy airline that has a virtual monopoly in many major markets of its home countries; addi n the impact on connecting passengers throughout the EU and LH Group's labor relations have got to be considered in assessing whether they should get bigger.
You can't ignore that Spohr's strategies haven't worked despite whipsawing labor. LH's profitability is the lowest of the Group and also the lowest of the big major EU airlines.
If TAP's pilots think labor relations matter, then LH Group could lose a real opportunity and it might force LH's board to realize that Spohr needs to go for reasons that include but are not limited to labor relations
@Tim Dunn
It is out of topic but kindly explain.
Why did Delta delay the entry into service of their A350-1000s?
It's funny seeing Tim talk about labor relations when Delta is the company that pays millions to keep new unions out of their company and is a major union basher. The same company, delta, that unilaterally took away the most lucrative profit sharing plan in the airline world but only from their non-union employees (and even had the nerve to show graphs pretending it was a good deal for their non-union employees when you'd have...
It's funny seeing Tim talk about labor relations when Delta is the company that pays millions to keep new unions out of their company and is a major union basher. The same company, delta, that unilaterally took away the most lucrative profit sharing plan in the airline world but only from their non-union employees (and even had the nerve to show graphs pretending it was a good deal for their non-union employees when you'd have to just be bad at math to believe it) only to give it back when ALPA kept the lucrative profit sharing plan and outside unions began showing Delta employees how beneficial a union can be to their personal well-being.
"It is beyond embarassing for any company to have a track record of such poor labor relations - which includes opening and closing subsidiaries in order to keep costs down "
This quote though... How ironic for our resident Delta fanboy to tee this one up... This is EXACTLY what Delta did closing down Comair due to labor costs then acquiring Pinnacle (now Endeavor) out of bankruptcy just to save on labor costs...
LH would love to have DL's labor relations.
When simpletons like Max reduce DL's industry-leading compensation to keeping unions out, they prove they are nothing more than mouthpieces for labor and the US airlines that have to bow down to them or watch their operations implode.
DL's pilots - which are very much unionized - have long led the industry in compensation including via profit sharing.
It is also noteworthy that UA's financial...
LH would love to have DL's labor relations.
When simpletons like Max reduce DL's industry-leading compensation to keeping unions out, they prove they are nothing more than mouthpieces for labor and the US airlines that have to bow down to them or watch their operations implode.
DL's pilots - which are very much unionized - have long led the industry in compensation including via profit sharing.
It is also noteworthy that UA's financial results - released yesterday - highlight how much lower UA pays its employees. DL and UA spent almost the same amount on salaries and benefits but UA had tens of thousands more employees even without owning a regional carrier subsidiary.
As UA pays more for labor and fuel this year, their earnings will fall relative ot the rest of the industry. Their plan to cut 5% of their growth - which takes them to flat capacity - means they are taking on a whole lot of new airplanes and not growing, simply adding to their long-term financial commitments, exactly what I said would happen.
spare us the drivel, Max. facts prove your statement makes no sense. because it is simply an excuse to look past the fact that DL employees are the highest paid in the industry.
Nasir,
I believe that DL was waiting for the new fuel systems to be approved on the 35K but some say it is other reasons, including for improvements to the Trent XWB 97 engines. I'm not sure it really matters since the DL 35Ks are going to have both.
What does matter is that DL will be taking all 20 35Ks over about a 2 year period and will gain the most capable and most fuel efficient aircraft in the US carrier fleet - far outperforming anything in the AA, AS or UA fleets.
The first DL 35K is just months from rolling off the assembly line and should be delivered early in 2027 which means several will be in service a little over a year from now.
DL's international growth is about to be turbocharged on the backs of substantial cost savings due to the refinery this year.
"DL's pilots - which are very much unionized - have long led the industry in compensation including via profit sharing."
Thank you for proving my point, Tim. Yes, Delta's pilots, in a union, have long made sure they're paid the best and keep the best profit sharing formula even when Delta tries to take it away.
And it's nice that you didn't even bother addressing how Delta did EXACTLY what LH does --...
"DL's pilots - which are very much unionized - have long led the industry in compensation including via profit sharing."
Thank you for proving my point, Tim. Yes, Delta's pilots, in a union, have long made sure they're paid the best and keep the best profit sharing formula even when Delta tries to take it away.
And it's nice that you didn't even bother addressing how Delta did EXACTLY what LH does -- shuts down one subsidiary over labor costs just to open a new one to save money. But that's what you said is bad labor relations, not me. I'm just noting that Delta has done exactly that since their merger with NW.
Delta's pilots got their full allotment of Covid taxpayer funds, as intended, because they were in a union. Delta's non-union employees? No. they did not. Delta corporate kept as much of it as they could then used the taxpayer money to reinvest in LATAM and AM.
Q1 2026 Net Income (in $m)
UA: $699
DL: ($289)
Q1 2026 CF/Capex/FCF (in $b)
UA: 4.8/1.9/2.9
DL: 2.4/1.7/0.7
@max,
If you are paying your employees well and treating them well, why would you need to have a union?
@Justin
ask Delta. They're the ones terrified of unions and spending millions to keep unions out. Delta could answer that better "Hey Delta, why do you spend so much money keeping unions out of your company?"
Plus, if you really want to know. Another example would be the covid bailout money. ONLY for Delta's non-union employees, Delta paid them significantly less of the taxpayer money FOR THE EMPLOYEES than any other US airline specifically...
@Justin
ask Delta. They're the ones terrified of unions and spending millions to keep unions out. Delta could answer that better "Hey Delta, why do you spend so much money keeping unions out of your company?"
Plus, if you really want to know. Another example would be the covid bailout money. ONLY for Delta's non-union employees, Delta paid them significantly less of the taxpayer money FOR THE EMPLOYEES than any other US airline specifically because they were non-union and didn't have minimum hour language like union contracts did.
So you want to know why? Because Delta screws their employees at the worst time in their lives and Delta hoards taxpayer money that was supposed to be for those employees.
to precisely no one's surprise, Max can't admit that DL's strategies - in this case - employee compensation - works far better than those of DL's competitors.
DL employees have voted the airline as one of the best places to work in rankings that no other US airlines make.
He, also as usual, doubles down on stupidity by ignoring the fact that DL's unionized employees make more.
and rebel doubles down on his level of...
to precisely no one's surprise, Max can't admit that DL's strategies - in this case - employee compensation - works far better than those of DL's competitors.
DL employees have voted the airline as one of the best places to work in rankings that no other US airlines make.
He, also as usual, doubles down on stupidity by ignoring the fact that DL's unionized employees make more.
and rebel doubles down on his level of stupidity by not understanding balance sheets or income statements.
UA sold hundreds of millions of newly delivered owned aircraft to leasing companies and added to their long term obligations which do show up on balance sheets.
That is what any company does when real cash from operations decreases dramatically which is what will happen when costs go up and true cash flow goes down.
UA is simply adding on more debt (leases are on the balance sheet just like debt) as their fuel prices increase.
In contrast, DL took a NON-CASH charge - just as UA did for its FA retro settlement last year- for DL's equity investments.
in actual operating metrics, DL and UA had nearly identical operating margins in the first quarter excluding the refinery.
neither Max or rebel are smart enough to know how wrong they are about so much.
In Q1 UA added 36 new aircraft, paid down debt, raised cash/equivalents and sold/leased back $440m in aircraft. UA owned almost 100 more aircraft than DL at the end of 2025 so they have that flexibility. It was an outstanding quarter for UA especially in light of fuel prices. $2B more CF and $1B more profit. It was only a matter of time.
UA actually TOOK ON unsecured debt and sold/leased aircraft in order to not reduce its cash on hand which will be pressured as labor settlements are put in place and as fuel costs increase.
UA and DL don't even calculate the same what is actually free or operating cash flow. To no suprise, UA takes the most footloose definition possible when real investors can read through UA's rah - rah
AS just said that west...
UA actually TOOK ON unsecured debt and sold/leased aircraft in order to not reduce its cash on hand which will be pressured as labor settlements are put in place and as fuel costs increase.
UA and DL don't even calculate the same what is actually free or operating cash flow. To no suprise, UA takes the most footloose definition possible when real investors can read through UA's rah - rah
AS just said that west coast fuel costs are problematic. DL saved 15 cents/gallon because of the refinery but always said that the refinery benefit would begin in Q2.
UA had a great quarter but this incessant notion you have that UA is beating DL is just beyond reasonable - but that is all we can expect from you given that you clearly are driven by your "small tools" on your shoulders and below your waist.
The gap in favor of DL will widen in the 2nd quarter and beyond.
Don't rely on me, though. Look at Wall Street which is not liking what it heard from UA - whose stock is down the most of the big 4 and in line with troubled B6. Only ULCC is down more driven Duffy comments that the feds are not likely to help NK which says the same is likely true for F9
Hopium and manipulation is not a strategy for anything other than your mental health
Sorry, UA cash/equivalents were up $2B, debt down $3.5B and adjusted total debt down $2.1B. Nice try though.
Rebel
We don’t always agree, but we both agree tim doesn’t have any idea how to read an 8-k or 10-q or seem to know what they are.
Much less delta’s own investor relations presentations since he often suggests “facts” that are a 180 from delta’s own IR team
again, learn to read financial statements.
UA paid down secured debt and took on unsecured debt.
and the first quarter isn't the true test. The 2nd through 4th quarters are as UA's expenses relative to DL really kick in.
Kirby understands that reality which is why they slashed growth hoping to push fares up -which also helps DL.
Facts really do hurt, huh tim?
Again, I’ll note that you didn’t refute a single thing I said. I agree delta employees vote a certain way, but they conveniently forgot how delta tried to take away their profit sharing and withheld taxpayer funds from them during COVID (ONLY delta did that).
But sure; talk about margins to do your usual lame attempt at a misdirect.
and yet DL employees have the industry and corporate America's best profit sharing.
You truly aren't smart enough to realize that if DL changed one thing, they would do something else to keep their employees at the front of the pack?
You don't even make sense arguing that DL has to bribe its employees to keep unions out but then think the company is going to risk the formula that works.
walk away, child.
The...
and yet DL employees have the industry and corporate America's best profit sharing.
You truly aren't smart enough to realize that if DL changed one thing, they would do something else to keep their employees at the front of the pack?
You don't even make sense arguing that DL has to bribe its employees to keep unions out but then think the company is going to risk the formula that works.
walk away, child.
The conversation is way over your head. DL's employee relations strategy works. Just as AF's does on different terms.
LH's does not.
everyone except you can see the difference
@max
I'm asking you as I do not understand what point you are trying to make.
Why would there need to be a union if employees are treated well? Would seem to me that DL has adopted the best strategy.
Did I say they need to be union?
I’m simply noting that:
1. Delta corporate has acted unilaterally to take away non union profit sharing and those same employees only got it back because the pilot union kept it and didn’t give it away
2. That delta fanboy tim’s sentence is amusing “ which includes opening and closing subsidiaries in order to keep costs down” since delta has done exactly that. They...
Did I say they need to be union?
I’m simply noting that:
1. Delta corporate has acted unilaterally to take away non union profit sharing and those same employees only got it back because the pilot union kept it and didn’t give it away
2. That delta fanboy tim’s sentence is amusing “ which includes opening and closing subsidiaries in order to keep costs down” since delta has done exactly that. They can’t with their own mainline due to their pilot union contract language
3. That delta has been forced to give full covid bailout money to their one major union, pilots. But withheld employee taxpayer funded money to their non union employees very recently — why? Because those employees had no contact preventing it, the pilots did
4. That delta spends millions to prevent outside unions coming in brainwashing their own people with internal marketing while neglecting to mention how much delta corporate has screwed them over recently (see above)
Delta does pay well now, true, it’s in the worst times when delta treated their employees by far the worst. Whether delta non union employees should unionize? That’s up to them. But the best parts about delta that they love today? Profit sharing, in particular, was due to a union getting it for them. Their management team tried to remove it knowing the future forecast of profits.
Tell me how did DL treat its Comair Pilots?
Comair was unionized and struck - which completely blows Max's argument out of the water.
DL's pilots last struck sometime in the 1950s or so which was also the last strike against DL, IIRC.
SkyWest is non-union and flies for AA, AS, DL and UA while Endeavor is also unionized but has not struck.
trying to connect the need for mainline non-pilot unions based on Comair is beyond lame.
but par for the course for people that are more about talking points than reality.
MaxQ says, "we both agree tim doesn’t have any idea how to read an 8-k or 10-q"
He definitely gets annoyed with simple facts. BTW I enjoy your posts.
LTD says, "Comair was unionized and struck - which completely blows Max's argument out of the water."
No it doesn't. Comair pilots struck for very good reasons and because Delta is anti-union management vindictively liquidated them later to send a message. Delta is only pro-employee when...
MaxQ says, "we both agree tim doesn’t have any idea how to read an 8-k or 10-q"
He definitely gets annoyed with simple facts. BTW I enjoy your posts.
LTD says, "Comair was unionized and struck - which completely blows Max's argument out of the water."
No it doesn't. Comair pilots struck for very good reasons and because Delta is anti-union management vindictively liquidated them later to send a message. Delta is only pro-employee when they are forced to be by their own or other airlines' unions and they barely try to hide it. Of course they pretend they pay well for all the reasons other than the actual ones for the gullible. Just part of the anti-labor relations playbook.
as usual, you have no clue what you are talking about... but that is par for the course.
DL shut down Comair because the pilots struck demanding that they be paid mainline wages.
DL also diversified its connection carrier portfolio between hubs so no carrier can singularly keep a mainline carrier hub. Other airlines did the same thing and copied DL's strategy.
None of which changes that you want to drag up anything you...
as usual, you have no clue what you are talking about... but that is par for the course.
DL shut down Comair because the pilots struck demanding that they be paid mainline wages.
DL also diversified its connection carrier portfolio between hubs so no carrier can singularly keep a mainline carrier hub. Other airlines did the same thing and copied DL's strategy.
None of which changes that you want to drag up anything you can from the past while ignoring the PRESENT which is that DL pays its people the best in the US industry and won't face a massive increase in labor costs even as fuel costs also increase and they are forced to take delivery of $8 billion worth of new aircraft with minimal growth.
Wall Street was not happy wiht UA's guidance today. It is clearly a Star thing. Financial markets don't like LH either. UA and LH clearly collaborate to keep labor oppressed AND underpaid.
We're waiting for the results of the AFA/UA vote.
that is all you need to share w/ us
LTD says, "DL shut down Comair because the pilots struck demanding that they be paid mainline wages."
Wrong as usual. As a result of the strike Comair pilots pay rose 13.5 percent to 19.6 percent. Annual salaries for starting pilots would go from about $16,000 to nearly $21,000 and rise to about $85,000 for senior jet pilots from $66,000 a year.
Delta did like the help striking so they dismantled Comair ten years later rather than replacing their retiring RJs.
LTD says, "Wall Street was not happy with UA's guidance today."
UA reported $2.9b in FCF for Q1 while DL is guiding to $3b-$4b FCF for the ENTIRE year. Yikes!
UAL stock went down 5.58% today which was down more than everyone except ULCC which is not happy to see Trump support NK and JBLU - who keeps digging their ditch deeper.
Only you could argue with data that avoids admitting that, yes, Wall Street did not like UA's guidance.
And, again, you love to live in the past to avoid admitting the CURRENT reality which is that DL employees are the highest paid...
UAL stock went down 5.58% today which was down more than everyone except ULCC which is not happy to see Trump support NK and JBLU - who keeps digging their ditch deeper.
Only you could argue with data that avoids admitting that, yes, Wall Street did not like UA's guidance.
And, again, you love to live in the past to avoid admitting the CURRENT reality which is that DL employees are the highest paid in the US and at or near the top in the world and have the best profit sharing in corporate America while UA FAs have waited over 5 years for settlement and UA mechanics are waiting to be properly paid as well.
And LH has the worst labor relations of any airline in the world - not far from UA in the US. It clearly is a Star thing no matter how much you want to baffle us with your manure to avoid admitting how bad Star labor relations are and how good SkyTeam's anchors are.
I'm very happy in the present.
Q1 2026 Net Income (in $m)
UA: $699
SW: $227
DL: ($289)
Q1 2026 CF/Capex/FCF (in $b)
UA: 4.8/1.9/2.9
DL: 2.4/1.7/0.7
DL guiding to $3b-$4b FCF for the ENTIRE year. Yikes!
and UA and WN (you do know that SW is not a US airline code?) haven't even given 2026 guidance?
again, you aren't smart enough to realize that UA goosed its income statement by doing sale/leasebacks that trash the balance sheet while DL took a NON-CASH charge for equity investments.
and the same goes for UA's cash flow metrics.
If UA was doing so great, Wall Street wouldn't have sent their stock down 6% today...
and UA and WN (you do know that SW is not a US airline code?) haven't even given 2026 guidance?
again, you aren't smart enough to realize that UA goosed its income statement by doing sale/leasebacks that trash the balance sheet while DL took a NON-CASH charge for equity investments.
and the same goes for UA's cash flow metrics.
If UA was doing so great, Wall Street wouldn't have sent their stock down 6% today - but it did.
You are the only one that is incapable of seeing reality in your incessant need to cheer for UA which is simply nowhere near performing at DL levels of financial metrics
I know this is upsetting for you, the guy who repeatedly said net income is all that matters. UA can goose the income statement plenty more because they own almost 100 more aircraft than DL. I guess that means DL was goosing all this time relatively. And UA had as much FCF in one quarter than the bottom end of DL's FCF guidance for the whole of 2026. Yikes! Sorry, your dog don't hunt.
"goose" is precisely what UA does... but it adds to the balance sheet as debt.
UA - and you - are great at cherrypicking one data point while ignoring 25 others.
Kinda like UA touting its best in industry on time departure rate when the DOT measures A14 arrival on-time and the DOT also cares about baggage handling which UA does worst than anyone in the industry.
and UA also calculates FCF differently -...
"goose" is precisely what UA does... but it adds to the balance sheet as debt.
UA - and you - are great at cherrypicking one data point while ignoring 25 others.
Kinda like UA touting its best in industry on time departure rate when the DOT measures A14 arrival on-time and the DOT also cares about baggage handling which UA does worst than anyone in the industry.
and UA also calculates FCF differently - to no surprise goosing their sale/leasebook transactions.
and as long as UA does sale/leaseback transactions using their goosed formula, of course they will lead - while adding to their debt
LTD says, "UA does sale/leaseback transactions using their goosed formula, of course they will lead - while adding to their debt"
In Q1 2026 UA decreased its net debt by $1.8b, DL by 760m.