DELTA AIR LINES, once thought of as one of the world's best-run airlines, is in serious trouble.
Announcing a three months loss of $312m it clearly stated that it could not survive without a thorough review of its cost structure.
The second quarter losses, which were almost a third higher than in the same period last year, came despite a 13% increase in revenues.
The airline has intense competition, AirTran at its Atlanta hub and JetBlue on its Florida routes.
Delta's pilots are some the highest paid in the industry and the airline is seeking an agreement with its union for substantial pay cuts and productivity increases.
www.delta.com