Delta Sets Plan, Rejecting US Airways Offer
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Delta Air Lines presented its own plan today to emerge from bankruptcy as a free-standing airline in the spring.
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US Airways today withdrew its $10 billion hostile takeover bid of Delta Air Lines after being informed that the bankrupt carrier's creditors were not interested in pursuing a deal.
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Delta Air Lines Inc.&#39;s CEO said Tuesday he declined his six-figure salary for the rest of the year as he detailed a 10-percent pay cut that will affect senior officials, administrative staff and ticket and gate agents.
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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.
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On Wednesday, Delta pilots agreed on cost saving plan of the company as Delta Air Lines is trying to avoid possible filing for Chapter 11 bankruptcy.
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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) appears to have given up on part of a debt exchange that is part of its restructuring plan.
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Delta Air Lines Inc. hit a selfimposed deadline Tuesday for some of its debtholders to respond early to an exchange offer meant to give the carrier breathing room as it seeks to avoid bankruptcy.
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US Airways' efforts to extract $800 million in cost cuts from its unions and avoid a return to bankruptcy suffered a major setback when a divided pilots union refused to submit a contract proposal to its membership for a vote.
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Delta Air Lines Inc. and its pilots&#39; union recessed talks Sunday without reaching an agreement on pay cuts that the company says are crucial to its effort to avoid bankruptcy.
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- Delta Air Lines said its board has rejected an $8.4 billion acquisition bid from rival US Airways Group Inc., calling the bid "structurally flawed" and plagued by antitrust and labor issues.
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NEW YORK - US Airways Group Inc.&#39;s pilots union leaders on Monday said they proposed new contract terms to management, which in turn made a counteroffer, after the union last week refused to endorse a company plan for $295 million of concessions.
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Flight attendants at US Airways  on Sunday said they had rejected a new proposal by the airline on cuts in wages and benefits which they said fail to improve on sick leave and reserve policies.
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Delta Air Lines Inc., the No. 3 U.S. carrier struggling to avoid bankruptcy, has slashed its U.S. fares, an industry analyst said, in a move industry watchers fear could trigger a price war.
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Delta Air Lines is to issue up to 75 million shares without shareholder approval in a high-stakes plan to ensure its financial survival.
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US Airways Group Inc. (UAIR.O: Quote, Profile, Research) issued a general appeal on Tuesday to the carrier&#39;s 3,000 pilots after their union&#39;s leaders rejected
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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.