Delta Air Lines in negotiations to amend debtor-in-possession credit facility; Amendments would lower annual interest expense.

0 Comments | M2 Presswire, March, 2006

M2 PRESSWIRE-15 March 2006-Delta-Air: Delta Air Lines in negotiations to amend debtor-in-possession credit facility; Amendments would lower annual interest expense(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:14032006 ATLANTA - Delta Air Lines (Other OTC: DALRQ) today announced that it has initiated negotiations with the lenders of its $1.9 billion debtor-in-possession (DIP) credit facility to amend certain aspects of that facility.

The amendments, if approved, among other things, will reduce Delta's interest rate on the three term loans making up this facility and enable Delta to complete amendments to unrelated financing agreements. "We are pursuing every opportunity to reduce our costs in order to give Delta the best chance to successfully restructure,"...