US Airways withdraws Delta offer
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US Airways Group on Wednesday said it withdrew its takeover offer for Delta Air Lines after Delta's official creditor committee informed US Airways that it would not support the bid.
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Delta Air Lines (DAL:NYSE - news - research) said Wednesday its debt exchange has ended, with the intermediate and long-term portions receiving insufficient interest from bondholders.
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Delta Air Lines Inc.  said  on Thursday it listened to a presentation by US Airways Group  Inc.  concerning US Airways' $8.5 billion takeover offer  for Delta, but repeated earlier statements that it intends to  emerge from bankruptcy as a stand-alone carrier.
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US Airways drops its $10bn bid for rival Delta Air Lines after the latter's creditors back the firm's own recovery plan.
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U.S. airlines have begun to withdraw a revenue-boosting fare increase initiated last week by Delta Air Lines, but it is too soon to say whether the bulk of the increase will last, a fare tracker said on Monday.
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The board of Delta Air Lines Inc.  met by conference call to discuss US Airways Group Inc.'s  $8.5 billion hostile bid, but the directors are not expected to issue a formal position on the offer for several days, the Wall Street Journal reported on its Web site on Tuesday, citing people familiar with the matter.
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US Airways Group Inc.  issued a general appeal on Tuesday to the carrier's 3,000 pilots after their union's leaders rejected proposed concessions the company says are crucial to avert insolvency.
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Some bondholders of Delta Air Lines  Inc.  have begun organizing an informal group to  support US Airways Group Inc.'s  $8.78 billion takeover  offer for the bankrupt carrier, a source close to the matter  said on Wednesday.
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Less than a year after US Airways Group Inc. listed its stock on the Nasdaq National Market, the airline&#39;s shares have been delisted, a result of its second bankruptcy filing.
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Delta Air Lines officially rejects an $8bn (Â£4.05bn) merger with US Airways proposed last month.
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Delta Air Lines Inc. is looking for a partner, but it isn't United Airlines. The third-largest US carrier said yesterday that it had had no discussions with Chicago-based United about a merger that would create the nation's largest carrier, dismissing a report that the talks had been ongoing for some time.
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US Airways' chief executive was arrested on a drunken driving charge hours after his airline's bid for Delta was rejected, the airline said Friday.  Doug Parker, 45, was pulled over for speeding at 11:30 p.m. Jan.
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ATLANTA -- Delta Air Lines and its pilot union plan to resume talks on pay cuts Monday in Washington, after failing to reach agreement Sunday.
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Delta Air Lines may still face bankruptcy despite of tentative agreement with its pilots dated late Wednesday. Late Wednesday, Delta reached an agreement with its pilots to cut costs in order for the carrier to survive.
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After US Airways, it now appears to be the turn of Delta Airlines. The Atlanta-based carrier has announced that its independent auditor has raised doubts about its financial viability and a revised annual
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Some bondholders of Delta Air Lines Inc.  have begun organizing an informal group to support US Airways Group Inc.'s  $8.78 billion takeover offer for the bankrupt carrier, a source close to the matter said on Wednesday.
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ATLANTA -- US Airways Group Inc. will pitch its $8.6 billion unsolicited offer for Delta Air Lines Inc. in a meeting this week with Delta and the committee representing the unsecured creditors in Delta's bankruptcy case, a lawyer for the committee said Tuesday.