USAir pitched........and......

[General Lee]

US Air pitches takeover offer to Delta, creditors

Thu Nov 30, 2006 5:11pm ET

NEW YORK, Nov 30 (Reuters) - US Airways Group Inc. (LCC.N: Quote, Profile, Research) said on Thursday it made a presentation to the management of bankrupt Delta Air Lines Inc. (DALRQ.PK: Quote, Profile, Research) and its creditor committee on its $8.5 billion offer to buy Delta.
"We reviewed our offer and had a chance to engage in discussions on the many facets of this proposal," said US Airways Chief Executive Doug Parker, in statement. "We are confident that our proposal for a 'New' Delta will create more value than a stand-alone plan."
Delta, which received the takeover offer on Nov. 15, has said that it intends to emerge from bankruptcy as a stand-alone carrier some time in the first half of next year.




They obviously think their plan is better, but the creditors have to decide (that would be Dalpa, Boeing, Pratt, Coke, Fidelity, the PBGC, and 2 banks and a lessor I believe), but DL obviously stressed to them (and the creditors) that DL's plan would be better for the company. We'll see.....


Bye Bye--General Lee


Bye Bye--General Lee

 

[FlyBoeingJets]

CHICAGO, Nov 30 (Reuters) - Bankrupt Northwest Airlines Corp. (NWACQ.PK: Quote, Profile, Research) on Thursday said it earned $37 million in October.
The carrier, which has been in bankruptcy since September 2005, reported fuel as its highest expense, amounting to $287 million


Being turned down by Delta may not be a bad thing. Then Parker can go after NWA.

 

[General Lee]

CHICAGO, Nov 30 (Reuters) - Bankrupt Northwest Airlines Corp. (NWACQ.PK: Quote, Profile, Research) on Thursday said it earned $37 million in October.
The carrier, which has been in bankruptcy since September 2005, reported fuel as its highest expense, amounting to $287 million


Being turned down by Delta may not be a bad thing. Then Parker can go after NWA.

Go for it. Better fleet commonality and no overlap. Something we have wanted all along. Bye now.


Bye Bye--General Lee

 

[sonny320]

CHICAGO, Nov 30 (Reuters) - Bankrupt Northwest Airlines Corp. (NWACQ.PK: Quote, Profile, Research) on Thursday said it earned $37 million in October.
The carrier, which has been in bankruptcy since September 2005, reported fuel as its highest expense, amounting to $287 million


Being turned down by Delta may not be a bad thing. Then Parker can go after NWA.

That seems to always be a hugh problem for Usairways management, instead of running an airline they (upper mgt) are more concern with merging with someone else.

 

[whymeworry?]

US Air pitches takeover offer to Delta, creditors

Thu Nov 30, 2006 5:11pm ET

NEW YORK, Nov 30 (Reuters) - US Airways Group Inc. (LCC.N: Quote, Profile, Research) said on Thursday it made a presentation to the management of bankrupt Delta Air Lines Inc. (DALRQ.PK: Quote, Profile, Research) and its creditor committee on its $8.5 billion offer to buy Delta.
"We reviewed our offer and had a chance to engage in discussions on the many facets of this proposal," said US Airways Chief Executive Doug Parker, in statement. "We are confident that our proposal for a 'New' Delta will create more value than a stand-alone plan."
Delta, which received the takeover offer on Nov. 15, has said that it intends to emerge from bankruptcy as a stand-alone carrier some time in the first half of next year.




They obviously think their plan is better, but the creditors have to decide (that would be Dalpa, Boeing, Pratt, Coke, Fidelity, the PBGC, and 2 banks and a lessor I believe), but DL obviously stressed to them (and the creditors) that DL's plan would be better for the company. We'll see.....


Bye Bye--General Lee




Bye Bye--General Lee

Come on, General. Don't be so naive. DL mgmt wants you (the pilots) to believe that it has your best interests at heart. Meanwhile, backroom deals are being made as we speak that will most certainly include a pathetically high compensation parachute for all the DL execs.

Watch your back. I do hope y'all remain independant but I believe mgmt will take the money before they even give labor a thought.

 

[grog_sit_reserv]

How many threads on the same topic can you come up with? DL management said no from the beginning, this wasn't a pitch for the management it was for the creditors; DL management won't have much say if the creditors like the deal.

 

[General Lee]

How many threads on the same topic can you come up with? DL management said no from the beginning, this wasn't a pitch for the management it was for the creditors; DL management won't have much say if the creditors like the deal.

Again, only the creditor committee will decide, and that is full of friendlies. I would be very surprised if they did. I give it 5% it could go through.

Bye Bye--General Lee

 

[General Lee]

Come on, General. Don't be so naive. DL mgmt wants you (the pilots) to believe that it has your best interests at heart. Meanwhile, backroom deals are being made as we speak that will most certainly include a pathetically high compensation parachute for all the DL execs.

Watch your back. I do hope y'all remain independant but I believe mgmt will take the money before they even give labor a thought.

Oberstar would squash any back room deals if it ultimately hurt the consumer. Southwest and JB will never serve smaller communities that only USAir and DL serve at the present. (like Florence, SC and Huntington, WV) Those local Congressmen will be all over this too. To say that both of those cities will keep service (and "choice") from both ATL (or CVG)and CLT is ridiculous. That is key. UAL and US had a lot of back door deals too, like creating "DC Air" with the owner of BET. How did that go?

Bye Bye--General Lee

 

[outtahere]

So will this not happen like the scope vote didn't happen?