Posted: Sep 14, 2009 8:46 AM by Associated Press
Delta Air Lines Inc., the world's biggest airline operator, says its available cash on hand will continue to fall by the end of the year as demand for air travel has been hit hard by the economic downturn.
The airline also says in a regulatory filing Monday that its 2010 funding requirement for its defined benefit pension plans, which have been frozen for future accruals, is estimated to increase by $450 million as compared to 2009. The increase in required funding is due primarily to the decline in the investment markets in 2008.
On the positive side, Delta says it expects its year-over-year revenue per available seat mile decline for the third quarter will be a slight improvement from the second-quarter year-over-year change.