12 replies to this topic

[nostradamus]

delta777, on Jan 29 2007, 06:01 PM, said:

SAN FRANCISCO-- The Unofficial Committee of Unsecured Claimholders of Delta Air Lines Inc.
late Monday said it has urged the Official Creditors' Committee to "carefully consider the meaningfully improved proposal" by US Airways Group Inc. "to merge with Delta and commit an open process that would allow a full exploration of strategic alternatives."

Earlier Monday, the Wall Street Journal reported that US Airways was prepared to add a $1 billion cash sweetener to its offer for Delta. "The Unofficial Committee believes it is essential that creditors be given a chance to decide whether to pursue a standalone reorganization plan or a viable alternative means of maximizing value," the group said in a statement. "The US Airways bid is a viable alternative that should be explored." The Unofficial Committee is the largest organized group of unsecured claimholders of Delta.

Is it just me or has your view on this subject mellowed slightly over the past week?

[brokenwrench]

http://biz.yahoo.com...rways.html?.v=5

US Airways Denies Report That It Will Up Offer for Delta

[nostradamus]

brokenwrench, on Jan 29 2007, 06:27 PM, said:

http://biz.yahoo.com...rways.html?.v=5

US Airways Denies Report That It Will Up Offer for Delta

Creditors group supports offer

[brokenwrench]

delta777, on Jan 29 2007, 05:29 PM, said:

Not at all, i'm still adamantly opposed to this merger. I liked Grinstein's quote,

"I'm not opposed to airline mergers, just not this one."

I like this one better.
"If you believe this merger won't lead to reduced service, you believe in Tinker Bell,"

Quote

Perhaps not officially, but i think we all know there is some major wheeling and dealing behind closed doors right about now.

I agree. I am trying to figure out if this story was a trial balloon to see if the committe bites. My own opinion is this thing is dead. DP can float these balloon's out there but DALPA is sitting with the creditors not DP.

[deltawatch]

UPDATE 1-Delta creditor group supports U.S. Airways offer
Mon Jan 29, 2007 9:21pm ET

NEW YORK, Jan 29 (Reuters) - An unofficial committee of unsecured creditors of bankrupt Delta Air Lines Inc. (DALRQ.PK: Quote, Profile , Research) on Monday urged the official creditors committee to consider the improved proposal by US Airways Group Inc. (LCC.N: Quote, Profile , Research) to merge with Delta.

In a statement, the committee, which described itself as the largest group of unsecured creditors of Delta, said creditors should have a chance to decide whether to pursue a stand-alone reorganization or a viable alternative.

"The US Airways bid is a viable alternative that should be explored," the committee said."