Subject:         Code-a-phone Thursday October 28, 2004 (3:30 a.m.)


This is MEC Chairman John Malone on Thursday, October 28, at time 3:30 a.m.
with a special update.

On Wednesday evening at approximately 6:00 p.m., your Negotiating Committee
and management reached a tentative agreement on a pilot contract that will
provide $1 billion a year in annual cost savings to the company.  After
reviewing the TA's details with the Negotiating Committee and ALPA's
professionals, the MEC ratified the tentative agreement.  It will now be
forwarded to the membership for your ratification. 

Let me say from the outset that it pained me to see such drastic changes
made to almost every section of our contract; they are significant and will
affect each of us and our families.  However, your union and our economic
experts were convinced that immediate relief was necessary to prevent a
bankruptcy filing in light of the company's economic condition.  Reaching an
agreement outside of bankruptcy court allows us to have some control over
any changes to our contract. While there are no guarantees that a bankruptcy
filing will not occur at some point, this tentative agreement will hopefully
buy Delta additional time to continue its out of court restructuring
efforts.  This tentative agreement is our best alternative.

Following is a very brief overview of some of the major changes.  You will
be provided with much more detailed information shortly:

* A 32.5 percent wage reduction from the May 2004 book rates effective
December 1, 2004, with no contractual increase thereafter for the duration
of the five-year agreement.

* The freezing of the Defined Benefit Plan and a new Defined Contribution
Plan with a target of a 49 percent FAE

* A Preferential Bidding System that is a significant change to our current
work rules.  I can say that the new rules, while clearly a concession from
today's contract, are still far superior to any other restructured airline's
scheduling rules

* Options to purchase approximately 30 million shares of Delta common stock
which represents a 15% equity stake.

Here is what you can expect over the next two weeks.  We understand the
desire for information is high. A Negotiators' Notepad and Chairman's Letter
will be distributed within the next couple of days.  Your elected
representatives will be in pilot lounges to answer your questions beginning
on Monday.  The membership ratification ballot will open on November 1 and
end on November 11.  It will be conducted using ALPA's telephone and
Internet voting procedures.

The coming days and weeks will be challenging for us all, as we make
decisions that affect our families, careers, profession and company. Stay
focused on the end goal of preserving as much of our contract as possible
and leaving the framework in place to rebuild when the economic situation
improves. 

On behalf of the MEC, I thank you for your unwavering support over the past
months.  Our unity of purpose continues to be our greatest strength.

That is all.