Wall Street is coming

We have 10 months to lock in our union before Wall Street starts squeezing Delta management for profits.

The Payroll Support Program (PSP) didn’t just protect our jobs, pay and benefits: it put rules in place to stop any efforts to redirect the profits we create simply to enrich Wall Street and executives. That money belongs to us. Our pay. Our benefits. Our vacation. Our sick leave. And, our passengers who would benefit from investments in the airline rather than giveaways to Wall Street.

The ban on stock buybacks lasts through September 30, 2022. But in 10 months, Wall Street investors can swoop back in and start making demands of Delta management.

Whether you like Delta management or not, management will lose control in 10 months. Wall Street will start pressing for more and more of the profits we create, and management’s #1 tool, as CEO Ed Bastian has said before, is to “manage down labor costs.”

If we want to lock in our pay, benefits and profit sharing, we need to have our union in place before Wall Street comes knocking. This is completely within our power to make this happen and entirely possible if we all just help out a little bit during layovers and non-working times during our trips.

Big investors can—and will—push management for billions more. Where will management get the cash? By taking it from Flight Attendants and other Delta workers. The only way we can protect ourselves is with a contract. Let’s get this done.

P.S. Missed the Delta AFA Hidden Costs Town Hall? Catch up here.