Sunday, 10 November 2013

Delta Announces New Board of Directors

Mar 30, 2007

ATLANTA, March 30, 2007– Delta Air Lines today announced that 10 individuals have been selected to serve, along with Delta Chief Executive Officer Gerald Grinstein, on a newly constituted board of directors when the company emerges from Chapter 11. The chairman of the board will be Daniel A. Carp, continuing Delta's current governance practice of having a non-Delta executive as chairman of the board of directors.

Under the terms of the Plan of Reorganization and Disclosure Statement filed with the U.S. Bankruptcy Court, the new board of directors will consist of 11 members, including Delta’s Chief Executive Officer. Delta and The Official Committee of Unsecured Creditors agreed that the Committee, in consultation with Delta, would select the other 10 members of the post-emergence board.

Proposed Board of Directors
If the Plan of Reorganization is confirmed by the court, the new board of directors will take office on the effective date of the Plan. The following 10 outside directors will join Grinstein on the new board:

Richard H. Anderson is an Executive Vice President of UnitedHealth Group Incorporated, where he has worked for the past four years, and President of its Commercial Services Group. Prior to joining UnitedHealth, Mr. Anderson was Chief Executive Officer of Northwest Airlines. He currently serves as a director of Cargill Inc. and Medtronic Inc.

John S. Brinzo is Chairman of Cleveland-Cliffs Inc., where he previously served as Chief Executive Officer and President. For more than 20 years, Mr. Brinzo held various positions of increasing responsibility at Cleveland-Cliffs. He currently serves as a director of Cleveland-Cliffs Inc., AK Steel Holding Corporation, Alpha Natural Resources Inc. and Brink’s Company.

Daniel A. Carp was Chairman and Chief Executive Officer of the Eastman Kodak Company from 2001 until his retirement in 2005. For more than 30 years, Mr. Carp held various positions of increasing responsibility at Eastman Kodak. He currently serves as a director of Liz Claiborne Inc., Norfolk Southern Corporation and Texas Instruments Inc.

Eugene I. Davis is Chairman and Chief Executive Officer of Pirinate Consulting Group, LLC.  Prior to founding Pirinate Consulting, he was President of Emerson Radio Corp. and Vice Chairman and Chief Executive Officer of Sport Supply Group Inc. Mr. Davis is a director of several corporations, including American Commercial Lines, Atlas Air Worldwide Holdings, Knology Inc., PRG-Schultz International Inc. and Silicon Graphics Inc.

Richard K. Goeltz was Vice Chairman and Chief Financial Officer of American Express Company from 1996 until his retirement in 2000. He also held senior leadership positions at National Westminster Bancorp, Inc. and Seagram Company. Mr. Goeltz currently is a director of Aviva PLC, Federal Home Loan Mortgage Corp., New Germany Fund and Warnaco Group Inc.

David R. Goode was Chairman of the Board of Norfolk Southern Corporation from 1992 until his retirement in 2006, and an executive officer of that company since 1985. He has been a director of Delta since 1999. Mr. Goode is also a director of Caterpillar Inc. and Texas Instruments Inc. He is a member of The Business Council.

Victor L. Lund was the Chairman and Chief Executive Officer of American Stores Company for seven years through its merger with Albertson’s in 1999. Following the merger, Mr. Lund served as a Vice Chairman of the Board of Albertson’s until 2002. Mr. Lund is also a director of Borders Group Inc., Del Monte (USA), DemandTec Inc., NCR Corporation and Service Corporation International.

Walter Massey is President of Morehouse College in Atlanta, Georgia. Prior to joining Morehouse, Dr. Massey has held teaching and directorship positions at institutions of higher learning and science foundations across the United States, including the University of Chicago, Brown University, The National Science Foundation and the University of California. He is a director of Bank of America Corporation, BP PLC and McDonald’s Corporation. Dr. Massey is also a director of the Commonwealth Fund, University of Chicago and the Andrew Mellon Foundation.

Paula Rosput Reynolds is the President and Chief Executive Officer of Safeco Corporation. Prior to joining Safeco, she was chairman, president and chief executive officer of AGL Resources. Ms. Rosput Reynolds has been a director of Delta since August 2004. She is also a director of Safeco Corporation and Coca-Cola Enterprises Inc.

Kenneth B. Woodrow was Vice Chairman of Target Corporation until his retirement in December 2000. He also served as that company’s President from 1994 until 1999 and held other management positions in that company from 1971 until 1994. Mr. Woodrow has been a director of Delta since 2004. He is a director of EZ Gard Industries Inc. and Visteon Corporation. Mr. Woodrow also serves as Chairman of the Board of Trustees, Hamline University.

“We’re pleased to welcome this new board to Delta,” said Gerald Grinstein, Delta’s Chief Executive Officer. “We are fortunate to have such a distinguished group of individuals serving on our Board. They represent some of the finest leaders in the business community today, possessing a broad range of talents and expertise and the highest level of commitment to integrity and ethics. We appreciate their interest in serving on our board and we look forward to benefiting from their guidance as Delta enters into a new and prosperous chapter in its history.

“I’d also like to thank Delta’s current board of directors for their service to Delta. Their contribution was critical to Delta’s transformation, guiding us from bankruptcy to our emergence as a strong and dynamic company. The dedication, judgment and expertise of these individuals was critical to that process and I’m sure that I join all of Delta’s other stakeholders in expressing gratitude for their tireless efforts,” continued Grinstein.

Delta Air Lines (Other OTC: DALRQ) offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service to 308 destinations in 52 countries. With more than 60 new international routes added in the last year, Delta is America’s fastest growing international airline and is a leader across the Atlantic with flights to 31 trans-Atlantic destinations. To Latin America and the Caribbean, Delta offers more than 600 weekly flights to 58 destinations. Delta's marketing alliances also allow customers to earn and redeem SkyMiles on more than 14,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 458 worldwide destinations in 99 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.

Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to prosecute, confirm and consummate our proposed plan of reorganization with respect to the Chapter 11 proceedings;  the actions and decisions of our creditors and other third parties with interests in our Chapter 11 proceedings; our ability to obtain court approval with respect to motions in the Chapter 11 proceedings prosecuted from time to time; our ability to obtain and maintain normal terms with vendors and service providers; our ability to maintain contracts that are critical to our operations; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for us to propose and confirm one or more plans of reorganization, to appoint a Chapter 11 trustee or to convert the cases to Chapter 7 cases; the cost of aircraft fuel; the impact that our indebtedness will have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; restructurings by competitors; the effects of terrorist attacks; and competitive conditions in the airline industry.

Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta’s Securities and Exchange Commission filings, including its Form 10-K for the fiscal year ended December 31, 2006, filed on March 2, 2007.

Current holders of Delta’s equity will not receive any distributions under Delta’s proposed Plan of Reorganization. These equity interests would be cancelled upon the effectiveness of the proposed Plan of Reorganization. Accordingly, we urge that caution be exercised with respect to investments in Delta’s existing equity securities and any of Delta’s liabilities and other securities. Investors and other interested parties can obtain information about Delta’s Chapter 11 filing on the Internet at delta.com/restructure. Court filings, claims information and our proposed Plan of Reorganization are available at deltadocket.com. Caution should be taken not to place undue reliance on Delta’s forward-looking statements, which represent Delta’s views only as of March 30, 2007, and which Delta has no current intention to update.

None of the statements in this press release is a solicitation of votes for or against any plan of reorganization. Any such solicitation will only be made through a disclosure statement approved by the Bankruptcy Court pursuant to section 1125 of the Bankruptcy Code.


View the original article here

Saturday, 9 November 2013

Delta Air Lines Receives Court Approval of Disclosure Statement and Authorization to Solicit Votes on Plan of Reorganization

Feb 7, 2007

ATLANTA, Feb. 7, 2007 – Delta Air Lines today announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the Disclosure Statement filed in connection with the company’s proposed Plan of Reorganization. The court also authorized Delta to begin soliciting approval from its creditors for the Plan of Reorganization. Prior to the hearing Delta successfully resolved all objections that had been filed.

Delta Air Lines Chief Executive Officer Gerald Grinstein said, “This is an important and exciting time for Delta. The court’s approval to proceed validates and recognizes the remarkable progress Delta people have made together to transform this great airline. There is no question good things are in store for our people, our customers, our creditors and the communities we serve as we approach the end of our successful Chapter 11 restructuring.”

At the hearing, U.S. Bankruptcy Court Judge Adlai Hardin ruled that Delta’s Disclosure Statement is adequate for the purposes of soliciting creditor approval for the Plan of Reorganization. A confirmation hearing for the court to consider approval of the Plan of Reorganization has been scheduled for April 25, 2007.

Edward H. Bastian, Delta’s chief financial officer and head of the company’s restructuring efforts, said: “Having received another crucial and tremendous vote of confidence in our plan and our people, we remain on course to exit bankruptcy this spring – possibly as soon as late April – as a strong, fiercely competitive airline. Backed by the support of our many stakeholders and using the bankruptcy process the right way, Delta people have strengthened and improved every aspect of how we do business. Upon emergence, Delta will be one of the best positioned airlines in the country based on financial strength and profit potential, with unit costs among the lowest of any traditional network carrier.”

In the next two weeks, Delta will begin mailing notices of the proposed confirmation hearing to, and begin the process of soliciting approvals for the Plan of Reorganization from, qualified claim holders. The Unsecured Creditors' Committee in Delta’s proceedings has stated its support for Delta’s Plan of Reorganization and has provided a letter to the company, which will be mailed to creditors with the Disclosure Statement, recommending that creditors vote in favor of the Plan of Reorganization. The two other committees appointed in Delta’s Chapter 11 proceedings are also supporting the Plan of Reorganization. Assuming the requisite approvals are received and the court confirms the plan under the company’s current timetable, Delta will emerge from Chapter 11 protection this spring.

As previously reported, Delta has received a commitment for up to $2.5 billion in exit financing from a consortium of lenders co-led by six financial institutions – JPMorgan, Goldman, Sachs & Co., Merrill Lynch, Lehman Brothers, UBS, and Barclays Capital. The facility, the terms of which have been approved by the Creditors’ Committee, will consist of a $1 billion first-lien revolving credit facility, a $500 million first-lien Term Loan A, and a $1 billion second-lien Term Loan B. It will be secured by substantially all of the first-priority collateral securing the existing debtor-in-possession facilities.

Proceeds from the facility will be used by Delta to repay its $2.1 billion debtor-in-possession credit facilities led by GE Capital and American Express, to make other payments required upon exit from bankruptcy and to increase its already strong cash balance.

If the company’s Plan of Reorganization is confirmed, current holders of Delta’s equity will not receive any distributions following emergence and their equity interests will be cancelled once the Plan of Reorganization becomes effective.

Delta Air Lines (Other OTC: DALRQ) offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service to 304 destinations in 52 countries.  With more than 50 new international routes added in the last year, Delta is America’s fastest growing international airline and is a leader across the Atlantic with flights to 31 trans-Atlantic destinations. To Latin America and the Caribbean, Delta offers nearly 600 weekly flights to 58 destinations.  Delta's marketing alliances also allow customers to earn and redeem SkyMiles on more than 14,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 453 worldwide destinations in 97 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.

Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995.  All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements.  These risks and uncertainties include, but are not limited to, the actions and decisions of our creditors and other third parties with interests in our Chapter 11 proceedings; our ability to obtain court approval with respect to motions in the Chapter 11 proceedings prosecuted from time to time; our ability to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 proceedings and to consummate all of the transactions contemplated by one or more such plans of reorganization or upon which consummation of such plans may be conditioned; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for us to propose and confirm one or more plans of reorganization, to appoint a Chapter 11 trustee or to convert the cases to Chapter 7 cases; our ability to obtain and maintain normal terms with vendors and service providers; our ability to maintain contracts that are critical to our operations; our ability to maintain adequate liquidity to fund and execute our business plan during the Chapter 11 proceedings and in the context of a plan of reorganization and thereafter; our ability to comply with financial covenants in our financing agreements; labor issues; our ability to implement our business plan successfully; the cost of aircraft fuel; pension plan funding obligations; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; restructurings by competitors; the effects of terrorist attacks; and competitive conditions in the airline industry.

Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta’s Securities and Exchange Commission filings, including its Form 10-K, filed on March 27, 2006 and its Form 10-Q, filed on November 9, 2006.

The risks and uncertainties and the terms of any reorganization plan ultimately confirmed can affect the value of our various pre-petition liabilities, common stock and/or other securities.  No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these liabilities or securities.

We believe that our currently outstanding common stock will have no value and will be canceled under any plan of reorganization we propose, and that the value of our various pre-petition liabilities and other securities is highly speculative.  Accordingly, we urge that caution be exercised with respect to existing and future investments in any of these liabilities and/or securities.  Investors and other interested parties can obtain information about Delta’s Chapter 11 filing on the Internet at delta.com/restructure. Court filings and claims information are available at deltadocket.com.  Caution should be taken not to place undue reliance on Delta’s forward-looking statements, which represent Delta’s views only as of February 7, 2007, and which Delta has no current intention to update.


View the original article here

Court Confirms Delta Air Lines Plan of Reorganization

Apr 25, 2007

NEW YORK, April 25, 2007– The U.S. Bankruptcy Court for the Southern District of New York today issued a ruling confirming Delta’s Plan of Reorganization, clearing the way for the airline’s emergence from Chapter 11. Delta expects its plan to become effective on April 30, once all closing conditions of the plan have been met and the company’s $2.5 billion in exit financing has closed.

“This is an exciting day for everyone at Delta,” said Gerald Grinstein, Delta’s Chief Executive Officer. “Achieving a turnaround of this magnitude in little more than 19 months would not have been possible without the hard work and dedication of Delta people worldwide, and the leadership, the vision and the flawless execution of our plan by our outstanding management team led by Ed Bastian and Jim Whitehurst. We are also grateful to all the other people who have helped make this possible for Delta, including the unwavering support of our customers and the communities we serve.”

After Delta’s confirmation hearing earlier today, the Honorable Adlai S. Hardin, Jr. issued his ruling affirming that the company had met all of the necessary statutory requirements to confirm its Plan of Reorganization and exit from Chapter 11. Earlier in the month, Delta creditors overwhelmingly supported the plan. More than 95 percent of the ballots cast and claims value voting were in favor of the plan.

Judge Hardin’s ruling also applies to all of Delta’s wholly owned subsidiaries that filed for Chapter 11 protection, including Comair, Delta Global Services, Delta Technology, Delta Air Elite and Delta Connection Academy. Each of those subsidiaries is expected to emerge from Chapter 11 alongside Delta on April 30. “Delta is now poised to enter the next chapter of our history as a strong airline ready to compete in an ever changing industry,” concluded Grinstein.

Delta’s common stock has been approved for listing on the New York Stock Exchange under the ticker symbol “DAL”. Trading on the NYSE is expected to commence April 26, 2007, on a “when issued” basis (DAL.WI), and “regular way” trading is anticipated to begin on May 3, 2007. Current holders of Delta’s pre-plan equity, which has recently traded over the counter under the symbol “DALRQ,” will not receive any distributions under Delta’s Plan of Reorganization. These equity interests will be cancelled upon the effectiveness of the plan. Accordingly, Delta urges caution be exercised with respect to investments in Delta’s existing equity securities and any of Delta’s liabilities and other securities.

Distribution to Creditors
A person holding a general unsecured claim of $10,000 against Delta (in Delta Classes 4 and 5) would receive an initial distribution of approximately 225 shares of new common stock in the reorganized Delta Air Lines. (Net distributions for Delta retirees and current and former employees generally will be smaller on account of withholding obligations). The initial distribution excludes approximately 135 million shares that are reserved from distribution due to disputed unsecured claims in Delta Classes 4 and 5. A total of 358,786,580 shares will ultimately be distributed to creditors in Delta Classes 4 and 5 under the Plan.

As a result of the significantly higher percentage of disputed claims outstanding against the Comair debtors, there will be a lower percentage distribution to Comair creditors at this time. Thus, a person holding a general unsecured claim of $10,000 against Comair (in Comair Class 4) would receive an initial distribution of approximately 139 shares. The initial distribution excludes approximately 25 million shares that are reserved from distribution due to disputed unsecured claims in Comair's Class 4.  A total of 27,213,420 shares will ultimately be distributed for to creditors in Comair Class 4 under the Plan.

Delta Air Lines offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service to 307 destinations in 52 countries. With more than 60 new international routes added in the last year, Delta is America’s fastest growing international airline and is a leader across the Atlantic with flights to 31 trans-Atlantic destinations. To Latin America and the Caribbean, Delta offers more than 600 weekly flights to 58 destinations. Delta's marketing alliances also allow customers to earn and redeem SkyMiles on nearly 15,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 456 worldwide destinations in 100 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.

Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to consummate our plan of reorganization with respect to the Chapter 11 proceedings; the actions and decisions of our creditors and other third parties with interests in our Chapter 11 proceedings; our ability to obtain and maintain normal terms with vendors and service providers; our ability to maintain contracts that are critical to our operations; the cost of aircraft fuel; the impact that our indebtedness will have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; restructurings by competitors; the effects of terrorist attacks; and competitive conditions in the airline industry.

Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta’s Securities and Exchange Commission filings, including its Form 10-K for the fiscal year ended December 31, 2006, filed on March 2, 2007.

Investors and other interested parties can obtain information about Delta’s Chapter 11 filing on the Internet at delta.com/restructure. Court filings, claims information and our Plan of Reorganization are available at deltadocket.com. Caution should be taken not to place undue reliance on Delta’s forward-looking statements, which represent Delta’s views only as of April 25, 2007, and which Delta has no current intention to update.


View the original article here

Opening Bell Signals Delta Air Lines’ Return to the New York Stock Exchange

May 3, 2007

ATLANTA, May 3, 2007 – The Opening Bell of today’s stock market signaled the addition of Delta Air Lines’ “DAL” stock ticker to the New York Stock Exchange (NYSE) as shares of the company’s new common stock began trading. CEO Jerry Grinstein signaled his confidence in the company by purchasing 1,000 shares of new Delta stock.

The company is making the initial distribution of its new common stock to unsecured creditors with allowed claims. As part of its previously announced comprehensive compensation program, Delta made its distribution of new common stock to approximately 39,000 noncontract employees.

“There is a renewed spirit at Delta that starts with our employees’ commitment to outstanding customer service. That energy permeates the company as we remain focused on executing a solid business plan that we expect will deliver great value for all of our stakeholders, including customers, employees, business partners and, of course, our new shareholders,” said Edward H. Bastian, Delta’s executive vice president and chief financial officer. “We are proud to be continuing our more than 50 year relationship with the New York Stock Exchange at this important moment in Delta’s history.”

Delta emerged from Chapter 11 on April 30, 2007, following a successful 19-month restructuring during which the airline fundamentally transformed its business. The company’s Plan of Reorganization was confirmed in an order entered by the U.S. Bankruptcy Court for the Southern District of New York on April 25, 2007. Delta Air Lines, Inc. began trading on the NYSE on April 26 on a when-issued basis under the ticker symbol “DAL.WI”. Regular way trading began today under the ticker symbol “DAL”.

To commemorate Delta’s emergence from Chapter 11 and the relisting of its common stock on the NYSE, the company is participating in The Opening and Closing Bell ceremonies with the NYSE. Delta executives this morning rang The Opening Bell from the airline’s newly redesigned international check-in lobby at Hartsfield-Jackson Atlanta International Airport. Delta executives, employees, customers and guests also are traveling to New York to ring The Closing Bell from the NYSE bell podium overlooking the trading floor in lower Manhattan.

Delta has selected Wells Fargo Bank, N.A. to serve as the transfer agent for its new common stock. Inquiries should be directed to Wells Fargo at 1-800-259-2345.

In accordance with Delta’s prior announcements and as required by the Plan of Reorganization approved by the Bankruptcy Court, Delta’s pre-plan common stock (which had traded over the counter with the symbol DALRQ) was cancelled (effective 9 a.m. April 30, 2007). Holders of the pre-plan common stock will not receive a distribution of any kind under the Plan of Reorganization.

Delta Air Lines (NYSE: DAL) offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service to 311 destinations in 52 countries.  With more than 60 new international routes added in the last year, Delta is adding international flights at a faster rate than any other major U.S. airline and is a leader across the Atlantic with flights to 32 trans-Atlantic destinations.  To Latin America and the Caribbean, Delta offers more than 600 weekly flights to 58 destinations.  Delta's marketing alliances also allow customers to earn and redeem SkyMiles on nearly 15,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 462 worldwide destinations in 98 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.

Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995.  All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements.  These risks and uncertainties include, but are not limited to, the actions and decisions of our creditors and other third parties with continuing interests arising in connection with our Chapter 11 proceedings; the cost of aircraft fuel; the impact that our indebtedness will have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; the effects of terrorist attacks; and competitive conditions in the airline industry.

Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta’s Securities and Exchange Commission filings, including its Form 10-K for the fiscal year ended December 31, 2006.
Interested parties can obtain information about Delta’s Chapter 11 filing on the Internet at delta.com/restructure. Court filings, claims information and our Plan of Reorganization are available at deltadocket.com. 
Caution should be taken not to place undue reliance on Delta’s forward-looking statements, which represent Delta’s views only as of May 3, 2007, and which Delta has no current intention to update.

Photo and Video available:
3:55 p.m. - 4 p.m., Thursday, May 3 – Live footage The Closing Bell from the NYSE
DownLink: 11706.5 (V)
Satellite/TR: 01 –Ch B9
Symbol Rate: 6.1113
FEC: 3/4
Digital Info: AMC 2 (KU) Digital

The Closing Bell feeds are also available via fiber line at Ascent media #1630.

Photos of The Closing Bell at the NYSE will be available via Associated Press/New York (212-621-1902), Reuters America (646-223-6285) and Bloomberg Photo (212-617-3420).

Stock fact sheet available at news.delta.com
Event photos will also be posted throughout the day and available for download at news.delta.com.


View the original article here