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Company Watch - Delta Air Lines.

Dec 11, 2006

Delta To Sell 38 Boeings, Orders 10 More. Delta Air Lines said on Thursday it will sell 38 Boeing planes after delivery as part of its bankruptcy, but that it will order 10 more planes and convert an existing order of five planes to longer-range aircraft to match its restructuring plans. Dec 7, 2006

Delta Air Lines Creditors Form Separate Group. A group of nine unsecured creditors of Delta have formed an unofficial committee to represent their interests, as the bankrupt carrier faces a takeover bid, according to court filings on Thursday. Dec 8, 2006

Delta Air Lines said it would provide more guidance on fleet plans in its reorganization plan to be filed later this month. Delta said it has booked USD$400 million in fleet savings out of a projected USD$450 million. Delta agreed in December of 2005 to sell 10 Boeing planes to CIT Group after delivery, due to start in 2007. Dec 7, 2006

Delta Air Lines said its new fleet plans will enable it to expand internationally and fly new routes. The transactions are subject to bankruptcy court approval. The company reiterated that it plans to emerge from bankruptcy in the first half of 2007 as an independent carrier. US Airways is trying to buy the company. Dec 7, 2006

Airlines Press Congress On Merger Bid. Chief executives of Delta Air Lines and US Airways pressed Congress on Wednesday on their opposing views on merging their companies, congressional officials said. Dec 7, 2006

Some Delta Creditors Form Separate Group. A group of nine unsecured creditors of Delta Air Lines have formed an unofficial committee to represent their interests, as the bankrupt carrier faces a takeover bid, according to court filings on Thursday. Dec 7, 2006

Delta Air Lines announced a "comprehensive settlement agreement" with the US Pension Benefit Guaranty Corp. that will "resolve all issues" related to the termination of its pilots' defined benefit pension plan. Under the terms, PBGC will be allowed a pre-petition unsecured claim against the airline of $2.2 billion and the debtors' reorganization plan will provide for the distribution of $225 million in senior unsecured notes to the agency. The deal is subject to both PBGC accepting its staff's recommendation that the plan meets the criteria for "distress termination" and approval by the US Bankruptcy Court. Retired DL pilots will receive $800 million in allowed claims while active pilots are covered by a defined contribution plan negotiated with the Air Line Pilots Assn. Dec 5, 2006

Delta Air Lines launched daily Atlanta-Dakar-Johannesburg service yesterday. Dec 5, 2006

Delta Air Lines agrees to sell 38 737-800s to lessors on delivery, orders 10 dash 700s. Delta reached aircraft purchase and sale agreements with Boeing and two aircraft lessors yesterday as part of an effort to right-size its fleet to emerge from bankruptcy as a standalone carrier with a heavy emphasis on international services. Dec 8, 2006

Delta Air Lines has agreed to sell 15 Boeing 737-800 aircraft to Aviation Capital Group, the leasing company of Pacific LifeCorp., and 23 planes to Babcock & Brown Aviation Finance. Dec 7, 2006

Delta Air Lines said that it would order 10 Boeing 737-700 aircraft and convert five firm orders for 777-200ERs to longer-range 777-200LRs. Dec 7, 2006

US Airways emphasizes commitment to Delta merger, calls for due diligence. US Airways Chairman and CEO Doug Parker yesterday reiterated his company's commitment to its proposed $8 billion takeover of bankrupt Delta Air Lines, calling on DL's board and creditors' committee to begin due diligence on the merger offer. Dec 7, 2006

US Carriers Pulling For US Airways. US airline industry executives are looking forward to the benefits of consolidation as US Airways attempts to take over larger, bankrupt rival Delta Air Lines. Dec 7, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com

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Nov 13, 2006
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Date:Dec 11, 2006
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