Northwest Reaches Deal To Extend Use Of Planes

Law360, New York (June 26, 2006, 12:00 AM EDT) -- A week after bidding to buy more time to file its reorganization plan, Northwest Airlines Corp. has persuaded certain creditors to allow the carrier to continue using 13 jet aircraft slated to be removed from service, as the carrier attempts to bring its fleet in line with current market values.

Certain creditors hold liens on the planes, which are operated by Northwest’s regional feeder Mesaba Aviation Inc. on behalf of Northwest.

The deal, reached late last week, will enable Northwest to keep using the planes for...
To view the full article, register now.