Originally Posted by
3Cforme
I'm wondering if the ~$400 million special charge doesn't cover the impairment costs of the entire 744 sub-fleet before end 2017. If parking four in 2014 and some more in 2015 saves $100 million in 2015, one can see the attraction to accountants.
But yes, RA's comments suggest a hard look at used widebodies, if well shy of confirming impending transactions.
I'd be surprised if they're writing down in-service assets, but maybe? For sure the $400 million charge includes whatever was on the balance sheet for the 4 impaired assets now sitting in the desert. The 744 refurbs were a fumble by DL, they're smart to take advantage of the current climate to sweep it under the rug.