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DL files first quarter 10-Q form with SEC
05/10/04 from Delta Air Lines Newsline Delta filed its Form 10-Q today with the Securities and Exchange Commission for the quarter ending March 31. All companies with publicly traded securities like DL, are required to file this form each quarter. DL's 10-Q filed today is consistent with the company's other public statements about its financial challenges. Among other things, this 10-Q filing noted that continued losses of the magnitude experienced in 2003 and the March 2004 quarter are unsustainable in the long term. "We have significant obligations due in 2005 and thereafter," DL said in the filing. ”If we cannot achieve a competitive cost structure, regain sustained profitability and access the capital markets on acceptable terms, we will need to pursue alternative courses of action intended to make us viable for the long-term, including the possibility of seeking to restructure our costs under Chapter 11 of the U.S. Bankruptcy Code.” In the filing, DL said it intends to continue operating for the benefit of its shareowners, customers, employees and other stakeholders with a goal to achieve sustained profitability and avoid bankruptcy. While Delta's leadership team will continue to focus on the company's financial and business strategy, all employees are encouraged to help by remaining focused on the business, maintaining the highest levels of safety and excellence in the operation and delivering excellent customer service. To read this and other Delta SEC filings, visit the Investor Relations site on delta.com. Employees are encouraged to talk with their supervisor or divisional leaders if they have questions.
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