Delta creditors not done yet?

[GOTAFLY]

NEW YORK, Dec 20 (Reuters) - Bankrupt Delta Air Lines Inc.'s official creditor committee said on Wednesday it supported the carrier's decision to file a reorganization plan, but it would continue to consider potential alternatives.
Delta (DALRQ.PK: Quote, Profile , Research), which has been operating under Chapter 11 protection since September 2005, rejected a takeover offer from rival US Airways Group Inc. (LCC.N: Quote, Profile , Research) on Tuesday and filed a business plan that would see it exit bankruptcy as an independent carrier.
A number of issues, including those left open in the plan, will be the focus of continuing discussions between creditors and Delta over the coming weeks, the official committee of unsecured creditors said in a brief statement.
But the committee added that it would continue to look at alternatives at the same time to maximize recoveries for unsecured creditors.

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[FDJ2]

NEW YORK, Dec 20 (Reuters) - Bankrupt Delta Air Lines Inc.'s official creditor committee said on Wednesday it supported the carrier's decision to file a reorganization plan, but it would continue to consider potential alternatives.

Looks like the Creditors are supporting DAL's plan and are showing Parker the door. Of course any creditor will want to leave the door open to a more suitable offer, if one were to materialize and at least has the potential for success.

 

[GOTAFLY]

I wouldn't say that they support the plan, just the decision to file one. Still leaving the door open to parker and anyone else.

 

[michael707767]

I wouldn't say that they support the plan, just the decision to file one. Still leaving the door open to parker and anyone else.

leaving the door open? Maybe. I think its legal speak for we support Delta but can't say forget all other options without risking a lawsuit. Much like GG and the board saying they would look at all options before they told Parker no.

 

[General Lee]

USAir had a slight sell off today, since they dropped a buck seventy on their stock. Wall St. doesn't seem that impressed....


Bye Bye--General Lee

 

[FDJ2]

USAir had a slight sell off today, since they dropped a buck seventy on their stock. Wall St. doesn't seem that impressed....


Bye Bye--General Lee

Wouldn't that also lower the offer. The creditors committee won't like that.

 

[GOTAFLY]

If Delta did not file a plan what would the creditors have to compare with the Us Airways offer? Thats just the next step in the process.

 

[General Lee]

If Delta did not file a plan what would the creditors have to compare with the Us Airways offer? Thats just the next step in the process.

No, that is legal speak for "no thanks." They have to say they will entertain all offers, so they won't be sued later by the creditors. USAir can always go for more, but they stopped short of that today, saying they were still an aggresive bidder. And, USAir's stock was down $1.70 today, showing Wall St. has begun the sell off.


Bye Bye--General Lee

 

[GOTAFLY]

General, Wall street sells off every day, CAL stock is down 1.45 today why, I don't know. It happens all the time. It could be a sign or not, like I have said before, time will tell. The problems will not be solved here on flight Info. between a few personal views.