Business Services Industry
New deals give Delta Air Lines additional savings.
Knight Ridder/Tribune Business News, November, 2004
By Todd Pack, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Nov. 9--Delta Air Lines, on the brink of bankruptcy barely two weeks ago, said in a progress report that it plans to offer company stock to key debt holders and expects to save millions of dollars in supplier costs.
Monday's update was only the latest in a series of upbeat announcements from the country's No. 3 airline.
Since its pilots union gave tentative approval Oct. 27 to $1 billion in wage and benefit concessions, the company has secured new loans and deferred debt.
Delta, the No. 1 airline at Orlando International Airport with about 17 percent of the market, will offer 12 million shares of common stock to debt holders and airplane leaseholders...
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