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US Airways ups offer for Delta Air Lines


Published : Wed, 10 Jan 2007 13:16
By : Agencies
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ATLANTA (AFX) - US Airways Group Inc. said Wednesday it was increasing its offer for Delta Air Lines Inc. by $1.7 billion, as it seeks to put pressure on the bankrupt carrier's creditors to agree to a deal that management opposes.

US Airways said it would pay $10.2 billion for Delta, up from its Nov. 15 bid that was currently valued at $8.5 billion.

The raised bid comes just two weeks after the chief of Tempe, Ariz.-based US Airways, Doug Parker, told The Associated Press that his company had no intention at the time to increase its offer.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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