DELTA AIR LINES INC. emerged from bankruptcy protection Monday as a stand-alone carrier after surviving a hostile takeover bid during a 19-month reorganization that saw it eliminate jobs, cut costs, restructure its fleet and focus more on international flying.
A U.S. Bankruptcy Court judge in New York had set 9 a.m. as the time the Atlanta-based airline could effectuate its exit from Chapter 11 by closing on a $2.5 billion loan that would allow it to pay back lenders who gave Delta money to help it operate while in bankruptcy.
