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Delta Files Plan Of Reorganization, Intends To Emerge From Chapter 11 In Spring 2007>LCC
12/19/2006
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12-19-06 0701ET
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*DJ Delta Files Plan Of Reorganization >LCC
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12-19-06 0701ET
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*DJ Delta Air Intends To Emerge From Chapter 11 In Spring
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12-19-06 0701ET
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*DJ Delta Bd Rejects Unsolicited Merger Proposal From US Airways
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12-19-06 0702ET
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*DJ Delta's 5-Yr Business Plan Sees Return To Profitability In 2007
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12-19-06 0703ET
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*DJ Delta's Sees Net Income After Profit Sharing Rising To $1.2B In 2010
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12-19-06 0704ET
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DJ Delta Rejects Unsolicited Merger Bid From US Airways>DALRQ
DOW JONES NEWSWIRES
Delta Air (DALRQ) on Tuesday said it rejected a merger proposal from US Airways (LCC) as it filed a plan for reorganization.
Delta said it will emerge from bankruptcy in the spring of 2007.
The air carrier sees a return to profitability in 2007, with earnings of $500 million expected for the year.
Delta's unsecured creditors will recover approximately 63% to 80% of their allowed claims, subject to assumptions and adjustments.
"The board concluded that Delta's standalone plan will provide the company's creditors with superior value and greater certainty on a much faster timetable than the US Airways proposal," Delta said.
-Steve Gelsi; 415-439-6400;
AskNewswires@dowjones.com
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12-19-06 0715ET
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