“One of his strengths is, he is a learner,” a former boss said about Delta CFO Dan Janki, an industry outsider who faces a set of challenges at the airline
, including capacity constraints after routes and jobs were slashed during the early days of the pandemic in 2020.The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.Delta has been holding more spare plane parts to make sure crucial pieces aren’t missing when needed, as well as adding time before and after flights, Mr. Janki said.
Consumer demand remains strong and corporate travel—an important income generator for Delta before the pandemic—is recovering, Mr. Janki said. Slower economic growth could actually help the airline’s corporate segment as more companies might decide to send their sales and other executives to see clients in person, Mr. Janki said.
Delta relied more on debt to shore up liquidity than competitors with weaker balance sheets that used a combination of debt and equity, said Savanthi Syth, an analyst at financial-services firmThe airline is somewhat limited in terms of what it can do with its capital, as it received emergency funds from the government during the onset of the pandemic. Those restrictions will fall away next month, but restoring the dividend or buying back shares will have to wait, Mr. Janki said.
Mr. Janki said he is working to reduce Delta’s unit costs. Part of that endeavor will be to bring nine aircraft back into service that are currently parked, and training new employees. “As we get a stable operation and you build that experience, you can start to get the efficiencies of those teams,” Mr. Janki said.such as divisional CFO and CEO of business units, including president and CEO of GE’s power portfolio. “It wasn’t just one business,” Mr.
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