Manufacturing Industry
Delta expected to file for bankruptcy this week
Airline Industry Information, Sept 12, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Delta Air Lines (NYSE:DAL) may file for bankruptcy protection this week.
The airline is reportedly getting close to an agreement on nearly USD1.7bn in financing for the restructuring process. The filing is expected to be made in the US Bankruptcy Court in New York, but will not take place until the airline directors hold a final vote for the authorisation of the process, The Wall Street Journal said, citing sources familiar with the situation.
According to the newspaper, the board also has to approve debtor-in-possession financing. This is reportedly expected to come from creditors led by General Electric Co's commercial finance unit.
((Comments on this story may be sent to aii.feedback@m2.com))
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