THE FATE OF Delta Air Lines now rests with a nine-member creditors’ committee whose members must weigh competing interests among debt holders as well as assess who is best qualified to lead the airline to profitability.
Tempe, Ariz.-based US Airways has an $8.5 billion merger deal on the table for the airline, which is reorganizing under protection of the U.S. Bankruptcy Court for the Southern District of New York. Delta management has rejected the offer so far, arguing that the airline and its creditors are better served if it remains independent.
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