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Delta Creditors Committee Says Plan Must Be Scrapped

Law360 (December 13, 2006, 12:00 AM EST) -- Delta Airline Inc.'s unsecured creditors committee said Tuesday that US Airways’ offer to buy Delta Airlines is contingent on the termination of the pilot pension plan.

“While US Airways’ offer is only in the preliminary stages of discussion and it is uncertain whether a merger agreement will ever be reached, one thing is certain: the merger between Delta and US Airways will not proceed if the pilot plan is not terminated.”

The committee argued in its brief filed in the U.S. Bankruptcy Court for the Southern...
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