panamair
Posts: 3759
Joined: Fri Oct 12, 2001 2:24 am

Delta Creditors Approve Reorg Plan

Tue Apr 17, 2007 2:39 am

Well, it's almost over...unofficial tabulation of results show that around 95% of the creditors have voted in favor of DL's Reorganization Plan...next step is the April 25 BK Court hearing to officially confirm the Reorg. Plan, followed by the official exit from Ch.11 probably on April 30.

http://biz.yahoo.com/pz/070416/117435.html

[Edited 2007-04-16 19:39:41]
 
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SLCUT2777
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RE: Delta Creditors Approve Reorg Plan

Tue Apr 17, 2007 2:50 am

Quoting Panamair (Thread starter):
next step is the April 25 BK Court hearing to officially confirm the Reorg. Plan, followed by the official exit from Ch.11 probably on April 30.

19.5 months in chapter 11. That is only half the time UA was under court protection (38-39 months).
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Alitalia744
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RE: Delta Creditors Approve Reorg Plan

Tue Apr 17, 2007 2:52 am

Beat me to it.

Nice work Delta. Here's to the 25th & more importantly the 30th and to the end of May!
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GlobalATL
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RE: Delta Creditors Approve Reorg Plan

Tue Apr 17, 2007 3:48 am

Anybody got any time frame/cost comparisons floating around in their heads when it comes to DLs huge success trying to dig themselves outta BK compared to other airlines during the last couple of decades?? Just curious!

[Edited 2007-04-16 20:54:09]
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FriendlySkies
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RE: Delta Creditors Approve Reorg Plan

Tue Apr 17, 2007 4:21 am

Quoting SLCUT2777 (Reply 1):
19.5 months in chapter 11. That is only half the time UA was under court protection (38-39 months).

I agree, bravo DL. However, let's not turn this into a DL vs. UA, DL didn't have nearly the labor troubles that UA did, which was a big part of the numerous setbacks.