Delta seeks yet another extension to file reorganization plan

[FA Mikey]

story here

Delta Air Lines Inc. has asked a federal bankruptcy court for an extension of about four months to file a reorganization plan, according to court documents filed on Wednesday.

Atlanta-based Delta asked a judge to extend until November 8 the time it has to exclusively file a plan, and push back a deadline for soliciting acceptances for the plan to January 8, 2007.

Competing plans cannot be filed during these periods, which are currently scheduled to expire on July 11 and September 9, respectively.

Delta, which filed for Chapter 11 bankruptcy protection in September last year, said it needs the extra time to "avoid the necessity of having to formulate a plan of reorganization prematurely."

This is the second extension the airline has asked for. It got six-month extensions for both deadlines in January.

 

[767jetz]

What's this????

Delta is unable to articulate a POR??

What will WorldTraveler do now??

 

[Vikedog64]

What's this????

Delta is unable to articulate a POR??

What will WorldTraveler do now??

Seems to me UAL had numerous extensions.

 

[Ch. 12]

What's this????

Delta is unable to articulate a POR??

What will WorldTraveler do now??

This is par for the course. Nobody does a 9 month BK. Filing for and receiving an extension is really expected in these cases. Nice try on the spin, 767jetz.

 

[Bear96]

I think jetz makes a fair point.

With every delay UA had in BK, WT was on here hooting and hollering about how each delay was evidence about how UA had no plan, was floundering, might not make it out at all, incompetence, etc. . . .

Conversly, he has been crowing since DL filed about how DL will do it "right" and come out quickly and everything DL does is part of a grand masterpiece plan.

So to put WT's spin on it if this were news about UA,

OMIGOD! DL filed in 2005! Now it won't be out until AT LEAST 2007! TWO YEARS! AND COUNTING! They're DOOMED -- DOOMED, I tell ya! They obviously don't know what they're doing! The judge should just pull the plug and deny the motion! They're being allowed to drag down the solvent carriers! This is an outrage! TWO YEARS (at least)!

 

[Ch. 12]

I think jetz makes a fair point.

With every delay UA had in BK, WT was on here hooting and hollering about how each delay was evidence about how UA had no plan, was floundering, might not make it out at all, incompetence, etc. . . .

Conversly, he has been crowing since DL filed about how DL will do it "right" and come out quickly and everything DL does is part of a grand masterpiece plan.

So to put WT's spin on it if this were news about UA,

OMIGOD! DL filed in 2005! Now it won't be out until AT LEAST 2007! TWO YEARS! AND COUNTING! They're DOOMED -- DOOMED, I tell ya! They obviously don't know what they're doing! The judge should just pull the plug and deny the motion! They're being allowed to drag down the solvent carriers! This is an outrage! TWO YEARS (at least)!

I'll stay out of that...I was just looking objectively.

 

[Bear96]

Objectively, of course, you are correct.

No one (except WT) expected a company the size of DL to emerge quickly, while delays in a complex BK are par for the course and say little if anything about the company's ultimate reorganization.

 

[john john]

HER IT COMES back to the table for ALPA .The unrepresentative you get what is left over after ALPA and the DIP financiers


•unless in imminent danger of losing its DIP financing and
satisfaction of other tests.
• The company must propose and may only support a Plan of Reorganization
(POR) that contains the ALPA Notes, the ALPA Claim (equity), and other terms,
including assumption of the PWA as modified.
• If the company's POR does not comply with the ALPA terms, procedures are
established to return to the PWA in its entirety as it existed prior to LOA #50.
• $650 million note or cash (at company option) in consideration of contract
concessions if the DB plan terminates. MEC to determine allocation.

 

[767jetz]

Seems to me UAL had numerous extensions.

You are correct.

My comment was specifically directed at WT, who never missed an opportunity to proclaim doom and gloom for UA every time an extention was applied for and granted.

 

[WorldTraveler]

DL has accomplished more in 8 months in BK than UA did in 2 years. And DL's delay is specifically in order to protect the pensions of its non-pilot personnel. UA took 3+ years to get through bankruptcy but didn't delay a minute in whacking from its employees. You do realize that DL pilots will make 15-20% more than UA pilots?

 

[Fly]

Not when this overextended international expansion fails.

 

[QA4Jet-A]

DL has accomplished more in 8 months in BK than UA did in 2 years. And DL's delay is specifically in order to protect the pensions of its non-pilot personnel. UA took 3+ years to get through bankruptcy but didn't delay a minute in whacking from its employees. You do realize that DL pilots will make 15-20% more than UA pilots?

Last I read, they are considering throwing them out too....

 

[Ch. 12]

Last I read, they are considering throwing them out too....

I'm not saying that those will not go away...but what you have read in the papers all along is in regards to the pilot pensions.

 

[WorldTraveler]

Not when this overextended international expansion fails.

The one you wish UA was doing. LHR getting a little boring for a layover?

 

[FA Mikey]

The one you wish UA was doing. LHR getting a little boring for a layover?

I think its more like the one Pan Am used in its final days. Fly to as many European cities possible.