Delta files Chapter 11 plan that would keep it a standalone company, rejects USAir bid

From: Deseret News (Salt Lake City) | Date: December 19, 2006| Author: | Copyright information

ATLANTA -- Delta Air Lines Inc. filed a reorganization plan Tuesday that calls for it to emerge from Chapter 11 bankruptcy protection next spring as a standalone company. It also said that its board has formally rejected US Airways' $8.3 billion hostile takeover bid to create the nation's largest airline.

The Atlanta-based carrier outlined a five-year business plan, and said that its advisers have determined that a reorganized Delta will have a consolidated equity value of roughly $9.4 billion to $12 billion. It said the plan would result in a recovery by Delta's unsecured creditors of ...

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