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"Delta eyes reorganization plan"
Monday, December 18, 2006
Delta eyes reorganization plan
The Cincinnati (OH) Enquirer
Delta Air Lines Inc., working to beat back an $8.4 billion merger bid from
US Airways Group Inc., may file by Tuesday a sweeping bankruptcy
reorganization plan, The Wall Street Journal reported on its Web site today.
Citing unnamed sources, the Journal said the value of the company under the
reorganization plan was $10 billion to $12 billion.
That range, representing the Atlanta airline's estimated market value after
emerging from bankruptcy, is down from the $12 billion to $14 billion range
that the airline caculated earlier this year.
Delta is restructuring under Chapter 11 bankruptcy protection. US Airways in
November proposed a deal to buy Delta, which the airline is fighting in an
effort to emerge next year as a stand-alone entity.
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