brokenwrench
Senior
- Oct 27, 2006
- 482
- 16
NEWS RELEASE
For Immediate Release: Contact: Daniel H. Golden
January 31, 2007 212.872.8010
STATEMENT OF THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF DELTA AIR LINES, INC. ET AL.
The Official Committee of Unsecured Creditors ( the “Creditors’ Committeeâ€) of Delta Air Lines, Inc. and its affiliated debtors and debtors-in-possession (“Deltaâ€) announced today that it has determined that it will support the standalone plan of reorganization as finally agreed upon between Delta and the Creditors’ Committee that will be filed later this week (the “Planâ€). The Creditors’ Committee reached this determination after engaging in extensive discussions with representatives of Delta and US Airways over the last two months and upon consideration of the advice of the Creditors’ Committee’s legal, financial and industry advisors. In reaching this decision, the Creditors’ Committee considered a variety of factors, including, but not limited to, valuation of, the timing and the risks associated with, and the likelihood of a successful consummation of the US Airways proposal and the Plan. The Creditors’ Committee intends to work collaboratively with Delta towards confirmation and consummation of such Plan.
There will be no further comment from the Creditors’ Committee at this time.
For Immediate Release: Contact: Daniel H. Golden
January 31, 2007 212.872.8010
STATEMENT OF THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF DELTA AIR LINES, INC. ET AL.
The Official Committee of Unsecured Creditors ( the “Creditors’ Committeeâ€) of Delta Air Lines, Inc. and its affiliated debtors and debtors-in-possession (“Deltaâ€) announced today that it has determined that it will support the standalone plan of reorganization as finally agreed upon between Delta and the Creditors’ Committee that will be filed later this week (the “Planâ€). The Creditors’ Committee reached this determination after engaging in extensive discussions with representatives of Delta and US Airways over the last two months and upon consideration of the advice of the Creditors’ Committee’s legal, financial and industry advisors. In reaching this decision, the Creditors’ Committee considered a variety of factors, including, but not limited to, valuation of, the timing and the risks associated with, and the likelihood of a successful consummation of the US Airways proposal and the Plan. The Creditors’ Committee intends to work collaboratively with Delta towards confirmation and consummation of such Plan.
There will be no further comment from the Creditors’ Committee at this time.
