Delta plans more asset sales |
|
|
|
Published
:
Tue, 27 Mar 2007 13:13
|
ATLANTA (AP) - Delta Air Lines Inc. expects to emerge from bankruptcy April 30 with an eye on returning to profitability, improving customer service and selling more assets to build shareholder value, the company said in documents prepared for an investor conference Tuesday.The nation's third largest carrier did not say in the documents what assets it plans to sell. The documents were filed with the Securities and Exchange Commission.The filing suggested Delta slightly moved up the date of the company's planned emergence from Chapter 11 protection. It had said in a statement March 20 it expected to emerge from bankruptcy in early May.Delta is expected to announce later this week who will serve on its post-bankruptcy board of directors. The board will pick a new chief executive officer to replace Gerald Grinstein, who has said he plans to step down sometime after Delta exits Chapter 11.Atlanta-based Delta said its objectives for this year, in addition to exiting bankruptcy, include achieving the financial commitments in its transformation plan, boosting margins and building cash for long-term strength.It will continue to expand its international service, with a special focus on its service from New York City's John F. Kennedy International Airport.Delta said in the investor documents it also wants to improve baggage handling, streamline and enhance customer service and improve the operational performance of the feeder carriers that service its Delta Connection flights.The company's plan to 'unlock shareholder value' includes building on its maintenance repair and overhaul business and 'further monetization of assets,' a phrase that refers to the sale of assets.Delta has not said what its plans are for subsidiary Comair Inc., the Erlanger, Ky.-based regional carrier that provides connecting service for the airline.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
|
|
Print this Story
Delta to keep separate CEO, chairman 