This isn't the kind of news you'd expect to hear from a company with plenty of DIP financing:
http://biz.yahoo.com/ap/060206/delta_bankruptcy.html?.v=2
Delta Allowed to Dip Into Disability Fund
Monday February 6, 12:22 pm ET
By Michael J. Martinez, AP Business Writer
Delta Allowed to Dip Into Disability Fund As Long As Payments Are Made
NEW YORK (AP) -- Delta Air Lines Inc. can continue using funds earmarked for a disability and survivors trust to meet other financial obligations as it reorganizes under Chapter 11, a U.S. bankruptcy judge ruled Monday, but only so long as it continues to make payments to retirees and other beneficiaries.
The court-appointed committee representing retiree interests had sought to force Delta to seek the retirees' approval before using funds from the disability and survivors trust, stating that removing the funds, which Delta seeks to continue doing, posed an inherent risk to retirees' benefits.
Dean Gloster, an attorney for committee, said Delta had already used $83 million of the trust's money for severance and sick leave payments prior to filing for bankruptcy last fall, and said the embattled airline wanted to use more of the trust's money to meet its obligations going forward.
http://biz.yahoo.com/ap/060206/delta_bankruptcy.html?.v=2