Delta Reaches Deal With Lender Over Aircraft Loans

Law360, New York (August 29, 2006, 12:00 AM EDT) -- With a $363 million loan payment looming, Delta Air Lines has reached a deal with its loan trustee over the financial arrangement connected to a portion of the embattled carrier’s fleet.

Judge Adlai Hardin of the U.S. Bankruptcy Court in Manhattan signed off on the agreement on Thursday, putting the finishing touches on the deal brokered between Delta and U.S. Bank Trust National Association.

In September 2001, the pair along with certain other parties entered into a “pass through financing arrangement,” known as the 2001-1 EETC,...
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