A billion dollars'
worth of pilot concessions and another $1 billion in financing from
the likes of American Express and General Electric may not be
enough to save Delta Airlines from bankruptcy, according to airline
executives in a filing with the Securities and Exchange
The airline reported, by 2006, it would need to:
Defer another $175 million in debt
Find up to $150 more in financial backing
Come up with $85 million in liquid assets
"We have not yet obtained any commitments for such additional
deferrals and finance and cannot assure you we will be successful
if these transactions are not consummated," the filing said.
There was no immediate indication that Delta would go back to
its employees for another round of concessions. Still, the airline
told federal regulators its pension obligations will be a big
burden over the next few years and could lead the airline right
back to the brink of financial disaster.