April 30, 2007 |
Delta Air Lines Inc. has undergone a major face lift during more than a year and a half in bankruptcy protection, but other changes are on the way as the nation's No. 3 carrier exits Chapter 11 today. Among other things, the company has set aside $10 million for a rebranding effort, its chief bankruptcy lawyer, Marshall Huebner, said in court recently. Executives also have said the airline will consider shedding Comair, a subsidiary that provides regional service.
April 26, 2007 |
A federal bankruptcy judge approved Wednesday a Delta Air Lines Inc. plan to exit bankruptcy after the nation's third-largest airline spent nearly 20 months in a wrenching reorganization that cut 6,000 jobs and slashed $3 billion in costs. Atlanta-based Delta expects to emerge from court protection Monday. It estimates it will be worth $9.4 billion to $12 billion, after it had reduced labor costs, restructured its fleet and terminated a pilots pension plan.
April 22, 2007 |
Customers buying tickets on Delta Air Lines Inc.'s website this summer will have the chance to donate money to help offset the carbon dioxide created by their airline travel. Beginning June 1, customers can opt to contribute $5.50 for a domestic round trip or $11 for an international round trip. The money will go to Conservation Fund, which will use it to plant trees and help support its education and outreach programs.
March 28, 2007 |
Delta Air Lines Inc. expects to emerge from bankruptcy protection April 30 with an eye on improving customer service and selling more assets to build shareholder value, it said, raising the possibility it could shed feeder carrier Comair. Although the nation's third-biggest airline did not say in documents prepared for an investor conference what assets it plans to sell, Chief Financial Officer Ed Bastian suggested that Delta subsidiary Comair Inc. could be a target. Erlanger, Ky.
March 27, 2007 |
Most of the biggest airlines have matched a $5-per-flight fare increase initiated by Delta Air Lines Inc., citing higher fuel prices. The increase is the second of four attempts to win the support of the major carriers this year, after at least 10 last year. Airlines generally roll back fare changes not matched by rivals to remain competitive. The higher fare will affect a relatively small number of travelers.
February 15, 2007 |
Delta Air Lines Inc., preparing to exit bankruptcy protection April 30, said its fourth-quarter net loss widened to $2 billion on costs to end its pilots' pension plan. The loss a year earlier was $1.2 billion, the Atlanta-based carrier said. Without the pension expense and other charges, it lost $179 million, compared with $782 million a year earlier. Delta, the third-largest U.S. airline, is working to leave court protection after rebuffing US Airways Group Inc.'s hostile takeover bid.
February 1, 2007 |
US Airways Group Inc.'s decision Wednesday to drop its hostile bid for Delta Air Lines Inc. has damped speculation that a wave of consolidation is about to sweep the industry. Airline deals may still be in the offing this year, analysts said. But the failure of US Airway's high-profile effort sends a strong signal that the number of big domestic carriers is unlikely to shrink in the near future.
January 31, 2007 |
The prospect of imminent airline industry consolidation faded Tuesday as US Airways Group Inc. reported no headway in its bid to take over rival Delta Air Lines Inc. US Airways Chief Executive Doug Parker said his airline's nearly $10-billion bid for Delta was firm and he had no intention of extending the Feb. 1 deadline for Delta's official committee of creditors to respond.
January 26, 2007 |
The city of Los Angeles said in a Bankruptcy Court filing Thursday that Delta Air Lines Inc.'s reorganization plan should not be approved because of undue authority it would give the company to reject certain leases. The city made the comments in an objection to the disclosure statement to Delta's reorganization plan. Denver, Palm Beach County, Fla., and the operator of a Puerto Rico airport also objected, as did some banks and an ad hoc committee of creditors.