Inquiring Minds Want To Know More | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** AIRBORNE 05.21.13 Aero-TV-- CLICK HERE! ** HD iPad-Friendly Version -- AIRBORNE 05.21.13 **

** AIRBORNE 05.17.13 Aero-TV-- CLICK HERE! ** HD iPad-Friendly Version -- AIRBORNE 05.17.13 **

** AIRBORNE 04.01.13 SPECIAL EDITION of Aero-TV-- CLICK HERE! ** HD iPad-Friendly Version -- AIRBORNE 04.01.13 SPECIAL EDITION **

Thu, Aug 26, 2004

Inquiring Minds Want To Know More

Delta Creditors Demand Details On Carrier's Financial Situation

Many of Delta's creditors might be willing to flex a bit as the company struggles to avoid bankruptcy. But before they do, they want to see a plan.

A group of 34 creditors which hold about $1.3 billion in Delta debt says it wants "substantial" information about the carrier's business plan and how it might restructure itself into a leaner, more profitable airline. Delta has been struggling for months now to climb out of the financial cellar it's been in since the 9/11 terrorist attacks.

The plan was first outlined by Delta executives last week. One option it puts forth is a debt-for-equity swap among its debtors.

But Delta has so far failed to win over its union pilots, who are the best-paid in the business. The airline wants them to accept a 30-percent salary cut. The pilots have offered to forego a raise and cut wages by just nine-percent. Delta says, if it can't get better concessions from its pilots, it could very well file Chapter 11.

FMI: www.delta.com

Advertisement

More News

Four Companies Recognized With 2013 EBAA Safety Of Flight Awards

Cited For Focus On Maintaining And Improving Best Practices Four European companies have been recognized for their commitment to safe operations as recipients of the 2013 European >[...]

Classic Aero-TV: Viking Engines--Building A Rep For Alternative SportAv Engines

Rotax Is NOT The Only Player In Sport Aviation Propulsion Ya gotta hand to Viking... in an industry so VERY well dominated by Rotax, it takes some serious talent and extraordinary >[...]

ANN's Daily Aero-Linx (05.22.13)

The European Cockpit Association The European Cockpit Association (ECA) was created in 1991 and is the representative body of European pilots at European Union (EU) level. It repre>[...]

ANN's Daily Aero-Term (05.22.13): Known Traffic

With respect to ATC clearances, means aircraft whose altitude, position, and intentions are known to ATC.>[...]

Aero-News: Quote Of The Day (05.22.13)

"(T)he PC-24 is a completely new development – not a 'me too product'." Source: Oscar J. Schwenk, Chairman of the Board of Directors of Pilatus, introducing the company's new>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2013 Web Development & Design by Pauli Systems, LC