Delta bondholders form group to back US Air bid: WSJ

[flymore3071]

NEW YORK (Reuters) - Some bondholders of bankrupt airline Delta Air Lines Inc. have begun organizing an informal group to support US Airways Group Inc.'s $8.78 billion takeover offer, the Wall Street Journal reported on its Web site on Wednesday.

That could help the bid overcome initial opposition from the Atlanta carrier's management and skepticism from some of its larger creditors, the paper said.

In conference calls yesterday with Deutsche Bank AG and Lehman Brothers Holdings Inc. , bondholders were urged to band together to pressure Delta to fully consider the bid from US Airways, the paper said.

The effort by both banks, which are Delta creditors, is aimed at creating a second group of creditors with some say in the airline's restructuring, it said.

Copyright 2006 Reuters

 

[USA320Pilot]

Delta bondholders form group to back US Air bid: WSJ

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Delta lenders seen supporting US Air offer - Some bondholders of bankrupt airline join in order to overcome opposition from Georgia-based airline's management, says report

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Delta creditors urged to support US Air takeover offer

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Best regards,

USA320Pilot

 

[PhxMama]

As several have posted, Money Talks! It looks like a wait and see scenario for most of us as its going to be a behind the scenes game. It should be a mini-series.(Really!) For Delta employees, I bet it feels like waiting for the Yankees to take Atlanta.(I have watched Gone With The Wind, waaay too many times). Im sure some info will leak but were going to stay tuned...I dont think we'll really hear anything new for a few weeks. Gotta get thru the holidays first. Just my thoughts. Mama

 

[soc-hpjester]

Well at least we would be called Delta and it would drag the joining of certficates out for many years to come. I hope. And no move to PIT or CLT !!!!

 

[Twicebaked]

Well at least we would be called Delta and it would drag the joining of certficates out for many years to come. I hope. And no move to PIT or CLT !!!!

No, I think that we (US/AWA) would be under one certificate BEFORE trying to add Delta to the mix. Doug stated that he wanted the FINANCIAL part done by the time they exit BK which is Feb. I firmly believe that if it would happen, Delta would just be a subsidiary of US or vice versa until we finish the US/AWA integration.

Just my thoughts.

 

[bigbusdrvr]

No, I think that we (US/AWA) would be under one certificate BEFORE trying to add Delta to the mix. Doug stated that he wanted the FINANCIAL part done by the time they exit BK which is Feb. I firmly believe that if it would happen, Delta would just be a subsidiary of US or vice versa until we finish the US/AWA integration.

Just my thoughts.

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Why couldnt usairways just operate delta as a subsidiary of usairways forever?? isnt that what they did with comair? We could redirect big jet to the operation which is most efficient and lest costly. delta would essentially become a large feeder for usairways!! Dont the usairways pilots fly 767's for less than delta?

 

[hp_fa]

No, I think that we (US/AWA) would be under one certificate BEFORE trying to add Delta to the mix. Doug stated that he wanted the FINANCIAL part done by the time they exit BK which is Feb. I firmly believe that if it would happen, Delta would just be a subsidiary of US or vice versa until we finish the US/AWA integration.

Just my thoughts.

They are not due to exit in Feb. They have the sole right to present a Reorganization Plan until then. They have gotten a number of extension of that date, as had US Airways. If they don't present a Plan by then, I imagine that any hearing for an extension will be contested.

DL will not be exiting until mid-2007 at the earliest.

 

[wings396]

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Why couldnt usairways just operate delta as a subsidiary of usairways forever?? isnt that what they did with comair? We could redirect big jet to the operation which is most efficient and lest costly. delta would essentially become a large feeder for usairways!! Dont the usairways pilots fly 767's for less than delta?

In the long run, I think that branding the entire operation under one name would be better. It would also be best for labor since they could play one group against another as needed. It would be tough to cut staff in a single location with one brand, while adding to the other. To me, the sooner they get it all together, the better. At this point, I will just be happy to be able to return to work someday in the near future... 😉

 

[SoftLanding]

Delta bondholders form group to back US Air bid: WSJ

See Story

Delta lenders seen supporting US Air offer - Some bondholders of bankrupt airline join in order to overcome opposition from Georgia-based airline's management, says report

See Story

Delta creditors urged to support US Air takeover offer

See Story

Best regards,

USA320Pilot

That group of creditors only makes up 30% of the creditors...another 21% (or so) to go.

SoftLanding

 

[john john]

It appears to me that the only sure fire losers in this deal are consumers and workers.

Eat or be eaten

 

[delldude]

Delta bondholders form group to back US Air bid: WSJ

See Story

Delta lenders seen supporting US Air offer - Some bondholders of bankrupt airline join in order to overcome opposition from Georgia-based airline's management, says report

See Story

Delta creditors urged to support US Air takeover offer

See Story

Best regards,

USA320Pilot

TOLD YOU SO LONG,LONG TIME AGO,I MAY HAVE MISSED THE MARKER ON THE UCT/MCT/BCT/ICT/BFT/LSMFT/BLT.....BUT I'M ON THE MARK NOW... 😉