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The time frame on this extension falls in line with the time line that we have been shooting for all along for exiting bankruptcy...still hoping for an early 2007 exit...
Any further extensions would mean that we are falling behind in the expected time line, so hopefully this will be the last extension asked for...
So this is the THIRD extension? :blink: Oh my. If an insolvent airline has to ask for MULTIPLE EXTENSIONS, doesn't that usually mean they are in deep doo-doo? And may not even emerge AT ALL???Delta, which has been operating under bankruptcy protection since September 2005, has asked for such extensions twice before. The No. 3 U.S. carrier has said it expects to exit Chapter 11 in the first half of 2007.
The PBGC wants DL to issue debt to them. DL wants them to accept equity alone. There's time for DL to work on them and still emerge in early 2007.
You'll remember that UA basically went to the BK court on every contentious issue and lined up enough supporting parties to convince the BK court to rule in UA's favor, even if everyone ended up getting screwed by UA although on different issues.
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