Tuesday, June 03, 2008

Delta CEO Says Company ‘Holds Best Hand in the Industry’

Delta Air Lines (NYSE:DAL) CEO Richard Anderson today told shareowners that Delta “holds the best hand in the industry.” Anderson outlined several areas of success including the best employees in the industry, double-digit top line growth and the continuous expansion of the airline’s international network.

Anderson also acknowledged the challenges the airline faces as a result of the record-breaking cost of fuel. “The company is performing well but faces headwinds due to the cost of fuel. We are proactively managing the issue in this environment while sticking to the greater strategy of Delta Air Lines.”

Anderson identified several efforts the company has made during the past months to combat the cost of fuel including domestic capacity reductions, various revenue initiatives and an aggressive multi-year fuel hedging portfolio which is currently valued at more than $1 billion.

“It’s very important to note the contribution of the Delta employees over the last few years,” Anderson continued. “The airline is running extremely well, producing the best on-time performance among the network carriers in 2007.”

Two proposals were put before the stockholders for approval. A preliminary tabulation of votes cast showed that the stockholders elected all nominees to Delta's Board of Directors by a substantial majority of the votes cast. In addition, the stockholders ratified the appointment of Ernst & Young LLP as Delta’s Independent Registered Public Accounting Firm for 2008. Final results of the voting will be published on Delta’s Web site, as well as in its next quarterly report on Form 10-Q.

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