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Lake City
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Metro is seeking input on “Phase 2” of Lynnwood Link Connections. In Phase 1 they gathered input on what the public wanted, and now they have taken those ideas and proposed a restructure. There are several themes common with this proposal, which are listed after the map.
Fewer Routes and Less Coverage
After the Northgate restructure, there were 5 express buses from the north end. Now that is down to just one — the 322. It is the only bus to go over the I-5 ship canal. Buses will instead connect to Link. This reflects a move away from expensive, peak-only express routes, towards a more all-day system.
But that isn’t the only place where service is being simplified. Several corridors will no longer have coverage. The 73 is gone, which means no service on 15th NE between Pinehurst Way and 75th. 5th Avenue NE, between 120th and Northgate Way (served by the 75 and before that the 41) will no longer have service. The 346 is gone, and with it is service on Meridian between 130th and 200th. There are more, but the most controversial change (to me, anyway) is the loss of service along Lake City Way between Ravenna Avenue and Roosevelt Avenue.
More East/West Service
One of the big suggestions to come out of phase one was to improve east-west travel in the area. Several routes help accomplish this goal. The 61 replaces the 20, linking up Greenwood with Northgate and Lake City. The 65 now covers the 125th/130th corridor, connecting Bitter Lake with Lake City and 35th NE (making a trip from Ingraham High School to Nathan Hale High School a one-seat ride). Instead of going north, the (3)72 heads west, to the station at 148th. Riders can continue to Shoreline by taking the 333 further west. There is now coverage along 175th (via the 334) while the 336 and 348 go over 185th. Finally, the 333 runs along the county border, connecting the Mountlake Terrace Station with Aurora Village and Shoreline Community College.
Routes are Split Based on Demand
The 372 is split into two routes: The more frequent 72, and the less frequent 324. The 75 ends at Lake City, which means it is largely a coverage route for Sand Point Way. As a result, it is slated to run less often (30 minutes outside of peak). The 331 is more or less split into two, with the eastern half (the 334) running a lot less often than the western part (the 333).
Conclusion
Overall, I consider this a strong step in the right direction. I have ideas for changes, but I’ll make that another post (along with comments here). Survey ends March 10th.
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California remains the home of the most costly abodes in the U.S., but metro Denver ended 2022 only $4,176 below New York City on the Zillow Home Price Index. And home prices here have left markets like Washington, D.C., Portland, Ore., and Miami in the dust.
Denver’s ranking on the Zillow HPI ranked eighth-highest out of the 51 metros tracked at the end of last year at $614,979, just behind New York at $619,155 and ahead of Sacramento, Calif., at $582,243. But the Zillow report also shows the housing slowdown is more pronounced in Denver than in many other markets, which could delay when it becomes cheaper to buy a home in New York City than in Denver.
“It is true that the most expensive markets and those that were the hottest during the pandemic – and Denver has a foot in both categories – have seen the biggest pullbacks in demand as mortgage rates have risen. Affordability is the main driver of the market cooldown, and areas with less-expensive homes are seeing more activity,” said Jeff Tucker, a senior economist at Zillow.
The average mortgage payment to support a typical home in Denver, assuming a 20% downpayment, was $3,107 in December, which ranked seventh-highest overall. A drop in mortgage rates brought the monthly payment down 1.1% from November. But someone who bought a typical Denver area home in December is paying 56% more than they would have in December 2021.
In December 2021, homes were flying off the shelf in a median of five days in metro Denver, but that number increased by 30 days last month to 35 days, according to Zillow. Nationally, the median number of days it took to sell a home rose by 17 days to 30 days. Denver had the ninth-biggest gain in days on market, but the increase wasn’t as severe as in Las Vegas, Phoenix and Austin, Texas, where more than 40 days were added to the median days on market.
Even with that rapid rise, Denver’s days on market aren’t too far above where it was before the pandemic, around 28 days in December 2019 and 27 days in December 2018.
“This looks like a dramatic shift in days on market compared to the lightning-fast market of the past two years, but it’s not far off from what we would have expected to see in the December doldrums before the pandemic,” Tucker said, adding that number should definitely decline as a fresh influx of listings arrives in the spring with warmer weather.
About 21% of homes listed in metro Denver sell for more than the asking price, compared to 56% a year ago. Nationally, 28% of homes went for above list, so Denver lags there as well.
Denver had the fourth-largest gain in its inventory of homes on the market last year at 61% versus a 15.9% gain nationally The only metros to see bigger increases were Salt Lake City, Seattle and Nashville, Tenn. And the inventory rise could have been worse, except that sellers in metro Denver put nearly a third fewer listings on the market in 2022 than they did in 2021.
Metro Denver rents remain a relative bargain, ranking 15th highest in the country at $1,970 and just below the typical U.S. rent, according to Zillow. On that measure, Denver rents are below Orlando, Fla., and just above Atlanta.
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Hayley Kiyoko has announced a sprawling world tour to support her recent second album, ‘Panorama’, taking her to 33 cities in the UK, Europe and North America across the bulk of April and May (and the first couple days of June).
The modern queer pop icon will begin her trek in the UK, kicking off in Glasgow on Wednesday April 5. She’ll take to stages in Manchester and London over the remainder of that week, before moving on to Europe. Her first week there will see her perform in Brussels, Amsterdam, Cologne and Paris, with the following week taking her through Zurich and Munich.
Just a week later, on Thursday April 27, Kiyoko will start her North American run in Orlando, then round the month out with gigs in Atlanta and Raleigh. She’ll start May out strong with shows in Nashville, Detroit, Chicago and Minneapolis throughout the first week, before hitting stages in Denver, Salt Lake City, Seattle, Portland and Vancouver.
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Californian fans will have two chances to see Kiyoko in the flesh – she’s playing in San Francisco on Monday May 15 and Los Angeles the night after (May 16) – and while Arizonians only have one date to look forward to (in Phoenix on Thursday May 18), Texans will have three: there’s an Austin show booked for Saturday May 20, then one in Dallas for Sunday 21, and Houston for Monday 22.
After playing in Philadelphia the following Thursday (May 25), Kiyoko will deliver a pair of shows in Canada – Toronto on Saturday May 27 and Montreal on Sunday 28 – before wrapping May up in New York City. Finally, the start of June will come with the end of the ‘Panorama’ tour, with a Boston show locked in for Thursday June 1, and a Silver Spring show for Friday June 2.
Tickets to all 33 shows go on sale at 10am local time this Friday (February 3), with various pre-sales running from tomorrow (February 2) – see here for more info on the UK and European dates, and here for the North American ones.
Kiyoko released ‘Panorama’ last July via Empire and Atlantic. Among the singles it delivered was ‘For The Girls’, which the artist described as “an anthem celebrating love [for women], highlighting our strength, beauty, and vulnerability”.
Hayley Kiyoko’s 2023 ‘Panorama’ tour dates are:
APRIL
Wednesday 5 – Glasgow, Galvanizers SWG3
Friday 7 – Manchester, Academy 2
Sunday 9 – London, KOKO
Tuesday 11 – Brussels, Ancienne Belgique
Thursday 13 – Amsterdam, Melkweg Max
Saturday 15 – Cologne, Carlswerk Victoria
Sunday 16 – Paris, Élysée Montmartre
Tuesday 18 – Zurich, Komplex 457
Thursday 20 – Munich, TonHalle
Thursday 27 – Orlando, House Of Blues
Friday 28 – Atlanta, Buckhead Theatre
Saturday 29 – Raleigh, The Ritz
MAY
Monday 1 – Nashville, Marathon Music Works
Wednesday 3 – Detroit, Saint Andrew’s Hall
Thursday 4 – Chicago, House Of Blues
Friday 5 – Minneapolis, Varsity Theater
Monday 8 – Denver, Summit
Tuesday 9 – Salt Lake City, The Depot
Thursday 11 – Seattle, Neptune Theatre
Friday 12 – Portland, McMenamins Crystal Ballroom
Saturday 13 – Vancouver, Commodore Ballroom
Monday 15 – San Francisco, The Fillmore
Tuesday 16 – Los Angeles, The Wiltern
Thursday 18 – Phoenix, The Van Buren
Saturday 20 – Austin, Emo’s
Sunday 21 – Dallas, The Echo Lounge & Music Hall
Monday 22 – Houston, House Of Blues
Thursday 25 – Philadelphia, Brooklyn Bowl
Saturday 27 – Toronto, The Danforth Music Hall
Sunday 28 – Montreal, Théâtre Corona
Tuesday 30 – New York City, Irving Plaza
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JUNE
Thursday 1 – Boston, House Of Blues
Friday 2 – Silver Spring, The Fillmore
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Travel is wonderful, commercial airports, and more often than not, commercial flights, are not. . .There are a few ways, though, to transform a slog through the terminal—mostly, by using the magic-workers employed by greeter services. These firms effectively act as in-terminal concierges to create a virtually frictionless experience at even the most hassle-prone airport (any alternative nominees to JFK, very welcome).
We’ve pulled together a cheat sheet of companies you should know, which operate both domestically and worldwide, and who’ll guarantee a good experience from opening the limo door to turning left as you board.
Air General
Airports Served
13 domestic hubs—the firm’s Donna Blanchard says that it’s most popular at Newark, La Guardia, Chicago O’Hare, Boston Logan, New Orleans International and Dallas Fort Worth.
Services Offered
For departing passengers, check-in and security, of course—thanks to its close partnership with each airport authority, staffers have security ID badges so they can breeze through the crowds. Its team will shop on clients’ behalf and accompany them until their aircraft departs—so if a delay or cancellation occurs at the last minute, they’re ready to assist with rebooking. For arriving passengers, Air General has permission to greet them in the Customs Hall at Baltimore/Washington International and Dallas, but otherwise must wait until they exit.
VIP Pro Touches
Air General hires its own greeters, who are mostly former airline staffers so they tend to be professional and committed to ensuring your experience is a good one.
Costs
All costs include accompanying up to four passengers for three hours of service. Rates start from $220 but vary per airport. In the NYC area, it offers enhanced safety greeters for $440: these are ex-military or -police but do not carry weapons in the airport. There are additional fees on holidays, overnight and for additional hours of service.
Bookings
Write to vip@airgeneral.com.
Alpha Priority
Airports Served
The Tel Aviv-based firm claims to operate in more than 400 airports worldwide—more than 70 of them stateside, including lesser hubs like Eagle County in Vail, Norfolk International in Virginia and General Mitchell in Milwaukee, as well as all the majors. Its reach in Europe is particularly impressive, too.
Services Offered
It offers both departure and arrivals VIP Fast Track—passport control, baggage collection and an escort to your driver on arrival, plus security, check-in and lounge facilitation on departure.
VIP Pro Touches
Well, they’ve been included in the Grammys goodie bags and have been used by Justin Bieber and Rihanna, so don’t be surprised to be idling in the lounge next to someone vaguely familiar.
Costs
The platinum-plated service has appropriate top-tier prices: departure from JFK is $495, for example, while arrival at Milan is $695.
Bookings
Reserver through the website.
American Airlines Five Star
Airports Served
It operates at over a dozen domestic airports, including Nashville, Austin and Chicago, as well as overseas at London Heathrow.
Services Offered
The greeter will confirm with a driver where to drop off a passenger, as well checking them in at the desk as privately as possible then escorting them through security and to the lounge. On arrival, the greeter will be waiting at the door on the gangway and assist until they get into the limo curbside.
VIP Pro Touches
You can only use this service if you’re booked in business or first class.
Costs
$350 for domestic airports, and $420 at LHR.
Bookings
Call: 877-578-2702
Delta VIP Select
Airports Served
VIP Select is available at Atlanta, Detroit, JFK, LAX, La Guardia, Minneapolis, Salt Lake City, Seattle, San Francisco.
Services Offered
This is a transfer service rather than arrivals or departures—and mostly focuses on the mythical Porsche on-tarmac connection. That’s when travelers can deplane, clamber into a chauffeur driven car and drive over to their next aircraft. It’s usually reserved for members of the ultra-elite Delta 360 level of its SkyMiles program.
VIP Pro Touches
There’s no way to book this service other than calling the number—so only those in the know can score a booking (though you don’t have to be traveling in Delta One to pay for this VIP experience)
Costs
From $250 per person, depending on the airport, with additional people costing $125 each.
Bookings
Call: 855-235-9847
Perq Soleil
Airports Served
It can provide support at 300 airports in 150 countries, and at the top 50 domestic airports stateside.
Services Offered
The standard arrival and departure gladhanding, plus a porter ready to handle any carry-on on arrival and an offer to deal with all issues around lost luggage.
VIP Pro Touches
Founder Tinu Ige, a one-time telecoms exec, created the company from a traveler’s perspective when she couldn’t find a greeter service that met her needs, so she’s especially receptive to special requests.
Costs
Prices vary per time of flight and airport served—at Washington, during the morning, a two-hour window of assistance costs $250 for four people. The same support at Boston is $360 and at LAX is $350.
Bookings
Email at contact@perqsoleil.com.
Global Airport Concierge
Airports Served
It claims to be able to function in 700+ airports worldwide, although Covid restrictions have curtailed some longtime operations. Its most popular hubs include Chicago, Rome and Frankfurt. It has its own staff, though, only at three airports: Heathrow, Newark and LAX.
Services Offered
This UK-based firm is an official partner for both United Airlines and MasterCard, operating the former’s Signature Service program and the latter’s Airport Concierge. For those flyers, and others who book directly, it handles the usual expediting of check-in and security for departure and bag collection and limo-finding on arrival.
VIP Pro Touches
For $4,500 book the ABI or Airport by Invitation experience, which effectively turns a commercial ticket into a private charter, at least on the ground: in a paparazzi-dodging move, you can enter via private terminals, be screened privately and take a chauffeur-driven car to the plane.
Costs
GAC’s support starts at $85, but more typical pricing is $360 for up to four people for arrival and departure at JFK or $250 for the first person plus $75 for each additional flier for the same service at LAX.
Bookings
Email at customerservices@globalairportconcierge.com.
Asia Fast Track
Airports Served
As the name suggests, this Singapore-based firm operates in that continent, from Ho Chi Minh City to Bangalore. But it also has offerings throughout Africa and the Middle East, as well as operating in a small number of European airports, including Amsterdam.
Services Offered
Departure and arrival, as well as connection-escorting. The major upside is on arrival, where at most airports (check when booking) escorts will greet clients at the jet bridge, rather than after immigration; this means they can also help with visa-on-arrival services, which are now commonplace in many emerging nations.
VIP Pro Touches
The 14-year-old firm can swing into action at the last minute, sometimes with as little notice as six hours before service. If you feel like causing a commotion on arrival, it can even wrangle police escorts in certain circumstances.
Costs
Starting at just $99 per person per arrival or departure, depending on the airport. Full-service arrival support at Accra, for instance, costs $239 for the first person, plus $40 for each additional traveler.
Bookings
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Executing on three-year recovery plan with year-one results ahead of expectations
Providing 2023 guidance for margin expansion and significant earnings growth to $5 to $6 a share
Reiterating 2024 financial targets of earnings over $7 per share and investment grade metrics
NEW YORK, Dec. 14, 2022 /PRNewswire/ -- Delta Air Lines (NYSE:DAL) will highlight the company's financial outlook and strategic priorities to the investment community today in New York. The event will be webcast, with presentations by Chief Executive Officer Ed Bastian, President Glen Hauenstein and Chief Financial Officer Dan Janki.
"2022 is proving to be a pivotal year as we rebuild the world's best-performing airline. Thanks to the exceptional work of our people, we navigated challenges while continuing to strengthen our competitive advantages, enhancing the power of our trusted consumer brand," Bastian said. "Demand for air travel remains robust as we exit the year and Delta's momentum is building. Our 2023 outlook for 15 to 20 percent revenue growth over 2022 and margin expansion support a near doubling of EPS to $5 to $6 per share, keeping us on track for our 2024 earnings target of over $7 per share."
The update comes as Delta closes out the final weeks of 2022, a year of significant progress in the restoration of the airline's financial foundation. Delta is delivering on key operational and commercial milestones and is ahead of its financial plan for the first year of the airline's three-year plan, established last December. Full year 2022 GAAP EPS is expected to be $2.12 to $2.17. Adjusted EPS of $3.07 to $3.12 reflects an increased outlook for the December quarter compared to prior guidance provided in October.
In 2023, Delta expects to deliver strong topline growth and significant operating leverage on a full restoration of its network and continued improvements in premium and loyalty revenue. Non-fuel unit costs are expected to decline 5 to 7 percent, driving margin expansion and a near doubling of adjusted EPS to $5 to $6. The company expects to generate more than $2 billion of free cash flow, enabling further debt reduction. The company is reiterating 2024 targets, including earning over $7 per share and strengthening the balance sheet to return to investment grade metrics.
Three Year Financial Outlook1
| | 2022 | 2023 | 2024 |
| Total Revenue | $45.5 - $45.6B | +15 - 20% YoY | GDP+ YoY |
| Operating Margin | 7.7 % | 10 - 12% | 13 - 15% |
| Earnings Per Share | $3.07 - $3.12 | $5 - $6 | >$7 |
| Free Cash Flow | Positive | >$2B | >$4B |
| Leverage2 | 5x | 3 - 3.5x | 2 - 3x |
| | |||
| 1 Non-GAAP measures; Refer to Non-GAAP reconciliations | |||
| 2 Adjusted Debt / EBITDAR | |||
December Quarter 2022 Financial Outlook1
Amid continued strong demand, Delta is raising its December quarter adjusted EPS guidance.
| | 4Q22 Forecast | |
| | Updated | Prior |
| Total Revenue2 | Up 7 - 8% | Up 5 – 9% |
| Operating Margin | 11 % | 9 – 11% |
| Earnings Per Share | $1.35 - $1.40 | $1.00 - $1.25 |
| | ||
| 1 Non-GAAP measures; Refer to Non-GAAP reconciliations | ||
| 2 Compared to December quarter 2019 | ||
Event Details, Webcast and Materials
The presentation will begin at 10 a.m. ET and conclude at 12 p.m. ET. It will include prepared remarks from Delta's Chief Executive Officer, President and Chief Financial Officer followed by a question and answer session.
A live webcast of the event, as well as the complete presentation, will be available at ir.delta.com. An online replay will be available at the same site shortly after the webcast is complete.
About Delta
More than 4,000 Delta Air Lines (NYSE: DAL) flights take off every day, connecting people across more than 275 destinations on six continents with a commitment to industry-leading customer service, safety and innovation.
Delta's team of 90,000 global professionals lead the way in delivering a world-class customer experience, and we're continuing to ensure the future of travel is personalized, enjoyable and stress-free. Our people's genuine and enduring motivation is to make every customer feel welcomed and respected across every point of their journey with us.
Delta has served as many as 200 million customers annually. Headquartered in Atlanta, Delta operates significant hubs and key markets in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St. Paul, New York-JFK and LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Seattle, Seoul-Incheon and Tokyo.
Powered by innovative and strategic partnerships with Aeroméxico, Air France-KLM, China Eastern, Korean Air, LATAM, Virgin Atlantic and WestJet, Delta brings more choice and competition to customers worldwide.
Delta is America's most-awarded airline thanks to the dedication, passion and professionalism of its people, recognized by Fortune, the Wall Street Journal, and Business Travel News, among many others.
Non-GAAP Reconciliations
Delta sometimes uses information ("non-GAAP financial measures") that is derived from the Consolidated Financial Statements, but that is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Under the U.S. Securities and Exchange Commission rules, non-GAAP financial measures may be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. The tables below show reconciliations of non-GAAP financial measures used in this update to the most directly comparable GAAP financial measures. Reconciliations may not calculate due to rounding.
Forward Looking Projections. Delta is not able to reconcile certain forward looking non-GAAP financial measures without unreasonable effort because the adjusting items such as those used in the reconciliations below will not be known until the end of the indicated future periods and could be significant.
Adjustments. These reconciliations include certain adjustments to GAAP measures, which are directly related to the impact of COVID-19 and our response. These adjustments are made to provide comparability between the reported periods, if applicable, as indicated below:
Restructuring charges. During 2020, we recorded restructuring charges for items such as fleet impairments and voluntary early retirement and separation programs following strategic business decision in response to the COVID-19 pandemic. During 2022, we recognized adjustments to certain of those restructuring charges, representing changes in our estimates. Restructuring charges in earlier periods include fleet and other charges, severance and related costs and other various items. Because of the variability in restructuring charges, adjusting for this item is helpful to investors to analyze our core operational performance.
Loss on extinguishment of debt. This adjustment relates to early termination of a portion of our debt.
We also regularly adjust certain GAAP measures for the following items, if applicable, for the reasons indicated below:
MTM adjustments and settlements on hedges. Mark-to-market ("MTM") adjustments are defined as fair value changes recorded in periods other than the settlement period. Such fair value changes are not necessarily indicative of the actual settlement value of the underlying hedge in the contract settlement period. Settlements represent cash received or paid on hedge contracts settled during the applicable period.
MTM adjustments on investments. Unrealized gains/losses result from our equity investments that are accounted for at fair value in non-operating expense. The gains/losses are driven by changes in stock prices, foreign currency fluctuations and other valuation techniques for investments in companies without publicly-traded shares. Adjusting for these gains/losses allows investors to better understand and analyze our core operational performance in the periods shown.
Third-party refinery sales. Refinery sales to third parties, and related expenses, are not related to our airline segment. Excluding these sales therefore provides a more meaningful comparison of our airline operations to the rest of the airline industry.
Delta Private Jets adjustment. Because we combined Delta Private Jets with Wheels Up in January 2020, we have excluded the impact of Delta Private Jets from 2019 results for comparability.
| Pre-Tax Income, Net Income, and Diluted Earnings per Share, adjusted | | | | | | ||||
| | | | | | | | | | |
| | Year Ended | | Year Ended | ||||||
| | (Projected) | | (Projected) | ||||||
| | December 31, 2022 | | December 31, 2022 | ||||||
| | | Pre-Tax | | Income | | Net | | Earnings | |
| (in billions, except per share data) | | Income | | Tax | | Income | | Per Diluted Share | |
| GAAP | $ | ~1.9 | $ | ~0.6 | $ | ~1.3 | | $ | ~2.12 - 2.17 |
| Adjusted for: | | | | | | | | | |
| Restructuring charges | | ~(0.1) | | | | | | | |
| Loss on extinguishment of debt | | ~0.1 | | | | | | | |
| MTM adjustments and settlements on hedges | | ~(0.1) | | | | | | | |
| MTM adjustments on investments | | ~0.8 | | | | | | | |
| Non-GAAP | $ | ~2.6 | $ | ~0.6 | $ | ~2.0 | | $ | ~3.07 - 3.12 |
| | |||||||||
| | Three Months Ended | | Three Months Ended | ||||||
| | (Projected) | | (Projected) | ||||||
| | December 31, 2022 | | December 31, 2022 | ||||||
| | | Pre-Tax | | Income | | Net | | Earnings | |
| (in billions, except per share data) | | Income | | Tax | | Income | | Per Diluted Share | |
| GAAP | $ | ~1.2 | $ | ~0.3 | $ | ~0.9 | | $ | ~1.35 - 1.40 |
| Adjusted for: | | | | | | | | | |
| Restructuring charges | | ~(0.1) | | | | | | | |
| MTM adjustments on investments | | ~0.1 | | | | | | | |
| Non-GAAP | $ | ~1.2 | $ | ~0.3 | $ | ~0.9 | | $ | ~1.35 - 1.40 |
| Total Revenue, adjusted | ||||||||||||||||
| | | | | | | | | | | | | | ||||
| | | | Year Ended | | Three Months Ended | | 4Q22 vs | | ||||||||
| | | | (Projected) | | | | (Projected) | | | | ||||||
| (in billions) | | | December 31, 2022 | | December 31, 2019 | | December 31, 2022 | | | |||||||
| Total revenue | $ | ~50.3 - 50.4 | | $ 11.4 | | $ | ~13.3 | | | | ||||||
| Adjusted for: | | | | | | | | | | | | |||||
| Third-party refinery sales | | | ~(4.8) | | (0.0) | | | ~(1.0) | | | | |||||
| Delta Private Jets adjustment | | | - | | (0.1) | | | - | | | | |||||
| Total revenue, adjusted | $ | ~45.5 - 45.6 | | $ 11.4 | | $ | ~12.3 | | 107 - | | ||||||
| Operating Margin, adjusted | | | | ||
| | | | | | |
| | | | Year Ended | | Three Months Ended |
| | | | (Projected) | | (Projected) |
| | | | December 31, 2022 | | December 31, 2022 |
| Operating margin | ~7.3% | | ~12% | ||
| Adjusted for: | | | | | |
| Restructuring charges | | ~(0.3) | | ~(1) | |
| Third-party refinery sales | | ~0.7 | | ~1 | |
| Operating margin, adjusted | ~7.7% | | ~11% | ||
Free Cash Flow. We present free cash flow because management believes this metric is helpful to investors to evaluate the company's ability to generate cash that is available for use for debt service or general corporate initiatives. Free cash flow is defined as net cash from operating activities and net cash from investing activities, adjusted for (i) net redemptions of short-term investments, (ii) strategic investments and related, (iii) net cash flows related to certain airport construction projects and other, and (iv) financed aircraft acquisitions. These adjustments are made for the following reasons:
Net redemptions of short-term investments. Net redemptions of short-term investments represent the net purchase and sale activity of investments and marketable securities in the period, including gains and losses. We adjust for this activity to provide investors a better understanding of the company's free cash flow generated by our operations.
Strategic investments and related. Cash flows related to our investments in and related transactions with other airlines are included in our GAAP investing activities. We adjust for this activity because it provides a more meaningful comparison to our airline industry peers.
Net cash flows related to certain airport construction projects and other. Cash flows related to certain airport construction projects are included in our GAAP operating activities and capital expenditures. We have adjusted for these items, which were primarily funded by cash restricted for airport construction, to provide investors a better understanding of the company's free cash flow and capital expenditures that are core to our operations in the periods shown.
Financed aircraft acquisitions. This adjustment reflects aircraft deliveries that are leased as capital expenditures. The adjustment is based on their original contractual purchase price or an estimate of the aircraft's fair value and provides a more meaningful view of our investing activities.
| | | | | | | Year Ended | |
| | | | | | | (Projected) | |
| (in billions) | | | | | December 31, 2022 | ||
| Net cash provided by operating activities: | | | | $ | ~5.9 | ||
| Net cash used in investing activities: | | | | | ~(6.4) | ||
| Adjusted for: | | | | | | | |
| Net redemptions of short-term investments | | | | | ~(0.4) | ||
| Strategic investments and related | | | | | ~0.7 | ||
| Net cash flows related to certain airport construction projects and other | | | ~0.5 | ||||
| Financed aircraft acquisitions | | | | | ~(0.2) | ||
| Free cash flow | | | | | $ | ~0.1 | |
Adjusted Debt to Earnings Before Interest, Taxes, Depreciation, Amortization and Rent ("EBITDAR"). We present adjusted debt to EBITDAR because management believes this metric is helpful to investors in assessing the company's overall debt profile. Adjusted debt includes operating lease liabilities. We calculate EBITDAR by adding depreciation and amortization to GAAP operating income and adjusting for the fixed portion of operating lease expense.
| | | | (Projected) | |
| (in billions) | | December 31, 2022 | ||
| Debt and finance lease obligations | | $ | ~23 | |
| Plus: Operating lease liability | | | ~8 | |
| Plus: Sale leaseback liability | | | ~2 | |
| Adjusted Debt | | $ | ~33 | |
| | | | | |
| | | | | |
| | | | Year Ended | |
| | | | (Projected) | |
| (in billions) | | December 31, 2022 | ||
| Operating income | | $ | ~4 | |
| Adjusted for: | | | | |
| Depreciation and amortization | | | ~2 | |
| Fixed portion of operating lease expense | | | ~1 | |
| EBITDAR | | | $ | ~6 |
| | | | | |
| Adjusted Debt to EBITDAR | | | 5x | |
SOURCE Delta Air Lines
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- Support Field: North Seattle
- Support Category: Lake City
Delta Air Lines (NYSE:DAL) will host a Financial Outlook and Strategic Update in New York on Dec. 14,2022, from 10 a.m. to noon ET. The day will include prepared remarks from Delta’s CEO, President and CFO followed by a Q&A session.
A live webcast of the event will be available at ir.delta.com. An online replay will be available at the same site shortly after the webcast is complete.
About Delta
More than 4,000 Delta Air Lines (NYSE: DAL) flights take off every day, connecting people across more than 275 destinations on six continents with a commitment to industry-leading customer service, safety and innovation.
More than 80,000 Delta people lead the way in delivering a world-class customer experience, and we're continuing to ensure the future of travel is personalized, enjoyable and stress-free. Our people's genuine and enduring motivation is to make every customer feel welcomed and respected across every point of their journey with us.
Delta has served as many as 200 million customers annually. Headquartered in Atlanta, Delta operates significant hubs and key markets in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St. Paul, New York-JFK and LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Seattle, Seoul-Incheon and Tokyo.
Powered by innovative and strategic partnerships with Aeroméxico, Air France-KLM, China Eastern, Korean Air, LATAM, Virgin Atlantic and WestJet, Delta brings more choice and competition to customers worldwide.
Delta is America's most-awarded airline thanks to the dedication, passion and professionalism of its people, recognized by Fortune, the Wall Street Journal, and Business Travel News, among many others.
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- Tech Support by: Emerald City IT
- Support Field: North Seattle
- Support Category: Lake City
SALT LAKE CITY – Seattle Seahawks head coach Pete Carroll announced that former Highland Rams standout Bryan Mone suffered an ACL injury during the franchise’s Week 15 loss to the San Francisco 49ers.
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The Seahawks hosted the 49ers at Lumen Field on Thursday, December 15.
With 7:46 remaining in the opening quarter and the game scoreless, Mone went down with the injury. The defensive tackle struggled to get off the field, not putting any weight on the leg, with the assistance of Seattle’s medical personnel.
After getting looked at on the sideline, the nose tackle was carted to the locker room.
The Seahawks ruled Mone out for the remainder of the contest.
Didn't look good for the former Highland High standout.#LocalsInTheNFL@kslsportshttps://t.co/TvDBUhQPA2
— Kyle Ireland (@kyleireland) December 16, 2022
Seattle went on to lose to San Francisco, 21-13.
After the game, the Seahawks coach said the “Big Mone” had sustained a serious knee injury.
A day later, Carroll announced that the former Highland Ram had suffered a season-ending ACL injury.
Carroll said an MRI confirmed a torn ACL for Bryan Mone.
Won't know if DeeJay Dallas can get back until at least middle of next week. "Legit" high-ankle sprain that has kept him out since the Rams win.
— Curtis Crabtree (@Curtis_Crabtree) December 16, 2022
With the loss, the Seahawks fell to a 7-7 record, including 3-4 at home.
Seattle’s next game is on the road against the Kansas City Chiefs on Saturday, December 24 at 11 a.m. (MDT) on FOX.
About Bryan Mone
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Prior to his NFL career, the defensive lineman was a standout player at Highland High School in Salt Lake City.
Following his prep days, Mone played college football for five seasons with the Michigan Wolverines.
During his time in Ann Arbor, Mone recorded 38 total tackles, 10 solo tackles, 1.5 sacks, one pass breakup, and two fumble recoveries.
Bryan Mone of the House Mone.
Mover of men
The breaker of the line
The father of this play pic.twitter.com/R6c1qVs7VE— Seattle Seahawks (@Seahawks) October 19, 2022
After he went undrafted in 2019, Mone signed with the Seahawks as a free agent.
During his four seasons in Seattle, Mone has totaled 73 total tackles, 33 solo tackles, two sacks, one forced fumble, and two pass breakups in 41 games played.
Kyle Ireland is a Locals in the NFL Insider for KSLSports.com and co-host of the Yards After College Podcast. Follow him on Twitter (@kyleireland) and Instagram (@kyleirelandksl).
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