Delta Files Restructuring Plan

Law360, New York (December 19, 2006, 12:00 AM EST) -- Bankrupt Delta Air Lines Inc. filed its much-anticipated Chapter 11 restructuring plan Tuesday, with the hopes that the plan will convince creditors to reject US Airways Group Inc.’s hostile takeover bid.

Delta filed several documents along with the reorganization plan, including a disclosure statement, valuation analysis, liquidation analysis and financial projections. An executive compensation package will be added to that list before the voting deadline.

According to the disclosure statement, the consolidated equity for the reorganized company will be $9.4 billion to $12 billion. US Airway’s...
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