Delta Air Lines exits Chapter 11 bankruptcy |
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Published
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Mon, 30 Apr 2007 12:00
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ATLANTA (Thomson Financial) - Delta Air Lines Inc said it has emerged from Chapter 11 bankruptcy protection after a 19-month restructuring and a year ahead of schedule.To conclude the exit process, Delta said it will close on a 2.5 bln usd exit financing facility that will be used to repay its 2.1 bln usd debtor-in-possession credit facilities led by GE Capital and American Express. It will also make other payments required upon exit from bankruptcy and increase its liquidity position.The exit facility was co-led by ten financial institutions.The airline, which said its exit from bankruptcy was approved by a US bankruptcy court on April 25, filed for Chapter 11 protection in September 2005.tf.TFN-Europe_newsdesk@thomson.comwjCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Delta seeks time to for Chapter 11 nod 