SLCUT2777 From United States of America, joined Dec 2005, 3858 posts, RR: 11 Reply 1, posted (6 years 3 months 2 weeks 5 days 4 hours ago) and read 1508 times:
Quoting RootsAir (Thread starter): Tomorrow might be an important turning point of US civil aviation. DL will have to decide or not to merge with US.
Quoting Marilyn Adams, USAToday: Showing frustration, US Airways CEO Douglas Parker said Tuesday that his company will drop its bid for Delta Air Lines on Thursday if bankruptcy creditors don't signal support for the $10 billion offer.
Delta's creditors "know exactly what they have to do," Parker said in a conference call on quarterly earnings. "If this (creditors) committee is not willing to do what it should do for investors ... we're not willing to pursue this transaction anymore."
Although Parker had earlier placed a Feb. 1 deadline on his offer, his comments suggested for the first time that US Airways (LCC) may be poised to walk away from the deal it proposed in mid-November and sweetened earlier this month.
Parker's comments followed days of frantic maneuvering by people on all sides of the controversial bid. US Airways' cash-and-stock offer for Delta, which has been in Chapter 11 reorganization since September 2005, has been rejected by Delta's management. Delta has lobbied its creditors to accept Delta's own plan to emerge as a stand-alone carrier. A merger would create the country's biggest domestic carrier.
Parker sweetened the offer for Delta by 20% three weeks ago, and the court-approved committee representing Delta's creditors hasn't responded. The committee could act today. Parker wants the creditors to force Atlanta-based Delta to open its books and postpone a bankruptcy court hearing scheduled for next Wednesday on Delta's stand-alone plan.
Doug Parker sounds VERY frustrated, and I think he is starting to concede he made a gross miscalculation, and perhaps should have gone after NW.
DELTA Air Lines; The Only Way To Fly from Salt Lake City; Let the Western Heritage always be with Delta!
RL757PVD From United States of America, joined Dec 1999, 4537 posts, RR: 13 Reply 2, posted (6 years 3 months 2 weeks 5 days 4 hours ago) and read 1473 times:
Quoting RootsAir (Thread starter): Tomorrow might be an important turning point of US civil aviation
Or it might not be.....
Experience is what you get when what you thought would work out didn't!
Mptpa From United States of America, joined Feb 2006, 515 posts, RR: 0 Reply 3, posted (6 years 3 months 2 weeks 5 days 1 hour ago) and read 1377 times:
DL creditors committee threw their support behind DL team, hence, rejecting any mergers. Soon after Doug Parker withdrew the merger offer.
So it is back to DL on its own or with a partner that is made under friendly terms. NW, where are you? You two will match together pretty good!!!
DeltaGator From United States of America, joined Sep 2005, 6341 posts, RR: 16 Reply 4, posted (6 years 3 months 2 weeks 5 days 1 hour ago) and read 1369 times:
Since US has withdrawn their offer for DL what exactly is the point of this thread? No offense to the OP but I suggest delete since it is no longer relevent.
"If you can't delight in the misery of others then you don't deserve to be a college football fan."
Srbmod From United States of America, joined Mar 2001, 16888 posts, RR: 51 Reply 5, posted (6 years 3 months 2 weeks 4 days 23 hours ago) and read 1302 times:
Since the merger is a no-go, this thread is now locked.
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