Delta seeks creditor help to fend off US Air bid

[700UW]

NEW YORK, Nov 17 (Reuters) - Bankrupt Delta Air Lines Inc. (DALRQ.PK: Quote, Profile, Research) is trying to rally support from creditors to help fend off a takeover bid by US Airways Group Inc. (LCC.N: Quote, Profile, Research), the Wall Street Journal reported on its Web site on Friday.

Delta Chief Executive Gerald Grinstein and other executives have held a series of conference calls with creditors to sift through terms of US Airways' offer, pressing creditors to back Delta's restructuring plan, the paper said.

The move could give Delta an early advantage in its fight to remain independent, the WSJ said.

US Airways proposed a $8 billion takeover of Delta on Wednesday after an attempt at merger talks failed earlier this fall.

US Airways, the No. 7 U.S. airline with over 35,000 employees, believes the combination will generate at least $1.65 billion in annual savings.

But Delta, the No. 3 U.S. airline with over 47,000 workers, said Wednesday it intends to emerge from bankruptcy as a stand-alone carrier.

US Airways officials were trying to arrange a meeting with representatives of Delta's official creditors committee, the WSJ said. It cited people familiar with the situation as saying that such a meeting could come as early as next week, with Delta officials expected to attend.

Delta was not immediately available for comment.

 

[awausairtech]

AMERICA WEST WILL buy another name brand AIRLINE AND IS NOW THE NEW NAME ( MUT AIR )......LOL.

 

[wildirishrose]

AMERICA WEST WILL buy another name brand AIRLINE AND IS NOW THE NEW NAME ( MUT AIR )......LOL.

Pretty soon we'll be answering the phone with just "Airline"

 

[Bobby]

Pretty soon we'll be answering the phone with just "Airline"

"Thanks for calling Delta, formally US Airways, formally America West"

 

[SCUBAgal]

NEW YORK, Nov 17 (Reuters) - Bankrupt Delta Air Lines Inc. (DALRQ.PK: Quote, Profile, Research) is trying to rally support from creditors to help fend off a takeover bid by US Airways Group Inc. (LCC.N: Quote, Profile, Research), the Wall Street Journal reported on its Web site on Friday.

Delta Chief Executive Gerald Grinstein and other executives have held a series of conference calls with creditors to sift through terms of US Airways' offer, pressing creditors to back Delta's restructuring plan, the paper said.

The move could give Delta an early advantage in its fight to remain independent, the WSJ said.

US Airways proposed a $8 billion takeover of Delta on Wednesday after an attempt at merger talks failed earlier this fall.

US Airways, the No. 7 U.S. airline with over 35,000 employees, believes the combination will generate at least $1.65 billion in annual savings.

But Delta, the No. 3 U.S. airline with over 47,000 workers, said Wednesday it intends to emerge from bankruptcy as a stand-alone carrier.

US Airways officials were trying to arrange a meeting with representatives of Delta's official creditors committee, the WSJ said. It cited people familiar with the situation as saying that such a meeting could come as early as next week, with Delta officials expected to attend.

Delta was not immediately available for comment.

delta will still be a stand alone airline... just bigger

 

[Weight&Balance]

AMERICA WEST WILL buy another name brand AIRLINE AND IS NOW THE NEW NAME ( MUT AIR )......LOL.

How about Pan American-Eastern-Allegheny-Piedmont-Pacific America West-Delta airways.

Or Hertitage Airlines. Leave the paint jobs in place and fly. h34r:

 

[N924PS]

delta will still be a stand alone airline... just bigger

I just checked my "FAT CHANCE METER" and it said "NO WAY".

 

[whodoiworkfor]

How about Pan American-Eastern-Allegheny-Piedmont-Pacific America West-Delta airways.

Or Hertitage Airlines. Leave the paint jobs in place and fly. h34r:

And our tag line can be, the Airline that Greed Built. Or Executive getting rich off the backs of workers.

 

[HPearlyretiree]

And our tag line can be, the Airline that Greed Built. Or Executive getting rich off the backs of workers.

Or, the airline full of whiners who never stop telling you of their suffering.

 

[kicked2curb]

Or, the airline full of whiners who never stop telling you of their suffering.

Is that you Mrs Borat ?

 

[28yrsnojob]

U will ruin delta into the ground

 

[N924PS]

U will ruin delta into the ground

I see nothing has changed for you since the last time you graced this forum with your venom.

 

[ChrisUS]

delta will still be a stand alone airline... just bigger

And better management.

U will ruin delta into the ground

The good Ole boys have done that already.

 

[sharktooth]

And better management.

I thought I had seen the floor of the abyss with USAir. Then I saw A&W and the bottom dropped out.

Taking an east 321 from a LAX-PHL to use on LAX-PHX, stranding 30+ pax in LAX that would have gone to Europe, maintenance management that couldn't get out of the way of slow growth grass, not to mention fighting their way out of a wet paper bag. Pathetically blowing a deal to buy aircraft from DAL.

Yeah, all I've seen is efficiency, by morons.

The good Ole boys have done that already.

Might I suggest that it is the corporate attitude that allows such an "elitist" mentality to exist, that of "Ole boys" that destroys a corporation and not the "Ole boys" themselves.

If you can name some "Ole boys", perhaps we can change the equation.

 

[longing4piedmont]

And better management.
The good Ole boys have done that already.

Of what? Running ponzi schemes? Cashing BIG checks they did not earn?

I fly Delta alot and I don't remember seeing a "circle of death" logo by the door of airlines they had ruined.