Manufacturing Industry
Delta Air Lines may seek bankruptcy protection
Airline Industry Information, May 11, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Delta Air Lines may have to seek bankruptcy protection if it fails to obtain significant wage cuts from its pilots.
The Atlanta-based company said in a quarterly report with the Securities and Exchange Commission: "If we cannot achieve a competitive cost structure, regain sustained profitability and access the capital markets on acceptable terms, we will need to pursue alternative courses of action... including the possibility of seeking to restructure our costs under Chapter 11."
It is said to be the first time the airline has publicly linked the two issues in a regulatory filing, according to The Associated Press.
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