Delta Gets Court OK To Tap $2.5B Exit Package

Law360, New York (April 18, 2007, 12:00 AM EDT) -- The judge overseeing Delta Air Lines Inc.’s Chapter 11 proceedings has given his blessing to a $2.5 billion exit financing agreement, moving the airline one step closer to its anticipated departure from bankruptcy on April 30.

Tuesday, U.S. District Judge Adlai S. Hardin Jr. signed off on an order granting Delta’s motion to perform its obligations under an exit facility commitment letter, pay the attendant fees and furnish related indemnities, and holding that Delta’s entry into the pact was based on a sound exercise of business...
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