US Airways and Delta testify before skeptical U.S. Senate panel

[USA320Pilot]

US Airways and Delta testify before skeptical U.S. Senate panel

"Meanwhile, another deadline looms: Objections to Delta's plan are due Thursday, and at least some of the airlines' creditors are expected to file. Among those likely to object are members of an unofficial second committee of Delta bondholders, which last week urged the official creditors committee to take action on US Airways' bid."

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USA320Pilot

 

[delta777]

US Airways and Delta testify before skeptical U.S. Senate panel

"Meanwhile, another deadline looms: Objections to Delta's plan are due Thursday, and at least some of the airlines' creditors are expected to file. Among those likely to object are members of an unofficial second committee of Delta bondholders, which last week urged the official creditors committee to take action on US Airways' bid."

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Regards,

USA320Pilot

This is the same bunch of 7 hedge funds and 2 investment banks that wanted to take the first offer, so there's no surprise there. All together they have around a $2.3 billion dollar claim against DAL, the same amount as DALPA, so the 2 sides cancel one another out.

The real question is what do the Official Creditors Committee, which represents half of the claims think. Three of the nine members are suppliers Boeing, Coca-Cola and United Technologies. The federal pension agency also has a seat. Another member, Delta's pilots union, backs an independent Delta. The four remaining members are bondholders or bond trustees.