Delta Redrafts Plane Leases, Saves $200M

Law360, New York (February 13, 2006, 12:00 AM EST) -- Bankrupt carrier Delta Airlines has asked a judge for permission to renegotiate 88 of its airplane leases in an effort to save $200 million.

Delta will return to court later this week with the redrafted leases, which will involve both changes to the monthly rents on Boeing 767-300 models and changes to the process by which Delta can terminate its leases.

Delta sought to renegotiate the leases in order to cut costs, entering talks with a group of plane owners instead of individuals to save time...
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