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Update On DL And LAX

Sat Oct 15, 2005 12:09 pm

Los Angeles World Airports Issues Statement on Delta Airlines Motion in Bankruptcy Court
Friday October 14, 3:59 pm ET

LOS ANGELES, CA--(MARKET WIRE)--Oct 14, 2005 -- Los Angeles World Airports issued the following statement in response to news reports regarding a Delta Air Lines motion in bankruptcy court in New York on Thursday, Oct. 13, seeking approval to stop making payments on bonds issued to finance facilities at Los Angeles International Airport (LAX).

The Delta request pertains only to bonds issued by the Regional Airport Improvement Corporation (RAIC), which is independent of Los Angeles World Airports (LAWA). Regardless of how the court rules on the request, there will be no affect on lease payments or landing fees owed by Delta to LAWA. Also, there will be no affect on Delta's operations at LAX.

Los Angeles World Airports is a City of Los Angeles department that owns and operates four airports in Southern California -- LAX, Ontario International, Palmdale Regional and Van Nuys.