Delta Airlines 2002 Annual Report Download - page 109
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During 2003, we expect pension, interest and fuel expenses to increase by
approximately $600 million to $800 million compared to 2002, not including the
impact of events outside our control, such as a war with Iraq or other
geopolitical risks. Assuming the Federal Aviation Administration (FAA) continues
to sell war and terrorism risk insurance to airlines at current rates and there
are no changes to our security requirements in 2003, we expect insurance and
security costs to remain relatively flat as compared to 2002. For additional
information on our war and terrorism risk insurance, see Note 19 of the Notes to
the Consolidated Financial Statements.
INITIATIVES
We believe it is essential for us to continue to reduce our costs. Accordingly,
we have initiated actions to reduce costs and capital expenditures in 2003 and
later years, with the goal of reducing non-fuel unit costs by 15% by the end of
2005. These initiatives include the following:
- Reducing staffing by up to an additional 8,000 jobs. We estimate that
our workforce reduction programs announced in 2002 will result in
approximately $350 million in annual
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