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Company Watch - Delta Air Lines,.

Dec 31, 2006

Comair, Pilots Extend Talks. Delta Air Lines unit Comair and its pilots agreed to a deal that would give the two sides until February 2 to negotiate a new contract, the bankrupt carrier and its pilots' union said on Friday. Dec 29, 2006

Comair, Pilots' Union Try To Buy More Time. Delta Air Lines unit Comair and its pilots' union have reached a deal that, if approved, would give the two sides more time to negotiate a new contract, the airline said on Thursday. Dec 29, 2006

Delta Loses USD$49 Mln In November. Delta Air Lines said on Friday it narrowed its loss in November to USD$49 million, keeping it on track to exit bankruptcy as a stand-alone company in the spring. Dec 29, 2006

Delta Sets Hearing On Reorganization Plan. Delta Air Lines set a February 7 hearing to begin seeking approval from creditors to exit bankruptcy as a stand-alone carrier, according to a court document. Dec 29, 2006

US Airways CEO Says Delta Offer Stands. US Airways has no immediate plans to boost or back off from its offer to buy Delta Air Lines, despite the bankrupt carrier's resistance, US Airways' chief executive said on Thursday. Dec 29, 2006

Delta Air Lines announced that it expects to recall all remaining furloughed pilots in 2007 and is accepting applications for new hires. It expects to add 200 pilots next year through recalls and new hires. Dec 26, 2006

Delta Air Lines should "consider methodically, proactively and fairly strategic alternatives to its standalone Chapter 11 plan," a group of "unofficial" unsecured creditors said last week in a statement. The group of 17 creditors unaligned with the official creditors committee said it "appreciates" the DL standalone plan but that all options, ostensibly including the US Airways takeover offer, should be explored. Dec 26, 2006

Delta Air Lines creditors have until Jan. 10 to file objections, with the court expected to rule on Jan. 18. The carrier originally planned to launch transatlantic service from the new terminal, but traffic downturns following the 9/11 attacks and Massport's unwillingness to construct customs facilities there forced it to cancel those plans. Dec 23, 2006

US Airways Chairman and CEO Doug Parker said yesterday that the assumptions underlying Delta Air Lines' standalone reorganization plan are "out of whack" and that warnings of a US/DL merger being derailed by antitrust issues are "misleading" and "superficial.". In a wide-ranging conference call with analysts, Parker said US management felt it was necessary to respond strongly to US Airways's assertions that its standalone reorganization plan offered more value to creditors than US's $8 billion takeover proposal and that the US Dept. of Justice likely would reject a merger on antitrust grounds. Dec 22, 2006

American, Delta Raise US Fares. American Airlines and Delta Air Lines increased fares in most US domestic markets in the face of higher jet fuel prices, the airlines said on Thursday. Dec 21, 2006

Delta Air Lines is obligated to repay the $497.8 million in bonds for Boston airport[sup.1]s Terminal A that were sold through Massport. Under the new agreement filed in US Bankruptcy Court on Dec. 15, DL would be absolved of that obligation. Any rent Massport collects from airlines and reserve funds will go toward repaying the bonds; the remainder will be covered by Ambac Assurance Corp., a Wall Street bond insurance company the airline hired to repay the bonds in the event of bankruptcy. Dec 21, 2006

Delta Air Lines' Official Creditors' Committee declined to give a swift thumbs-up to the airline's proposed Plan of Reorganization and accompanying Disclosure Statement released Tuesday. While stating that it supports the company's decision to file the reorganization plan, the Committee yesterday said it "will continue to consider potential alternatives in order to maximize the ultimate recoveries" for unsecured creditors. Dec 21, 2006

US Airways was quick to point out the committee made it "clear that it has not decided to endorse Delta's Plan of Reorganization and is continuing to evaluate our proposal...We will continue to work with the Creditors' Committee as it evaluates the value created by our proposal compared with Delta's standalone plan." Dec 21, 2006

Delta Air Lines flew 8.91 billion system RPMs in November, down 1.8% from the year-ago month. Capacity fell 6.5% to 11.51 billion ASMs and load factor rose 3.7 points to 77.5%. Domestic RPMs dropped 8.4% to 6.47 billion, ASMs declined 13.8% to 8.29 billion and load factor rose 4.6 points to 78.1%. International traffic climbed 21.2% to 2.44 billion RPMs against a 19.7% rise in ASMs to 3.22 billion, lifting load factor 1 point to 75.9%. Dec 18, 2006

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Dec 18, 2006
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Publication:Airguide Online
Date:Jan 15, 2007
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