Delta Rejects Rivalâs Bid as It Files Plan to Exit Bankruptcy
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The plan values Delta Air Lines at $9.4 billion to $12 billion and said its board has rejected US Airwaysâ $8.5 billion bid.
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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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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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A U.S. bankruptcy court on Wednesday allowed Delta Air Lines Inc.  to begin seeking creditor approval for its reorganization plan, bringing the No. 3 U.S. carrier a big step closer to exiting bankruptcy this spring.
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Delta Air Lines Inc. formally rejected a bid by smaller rival US Airways Group Inc. and filed its own long-awaited plan to emerge from bankruptcy on Tuesday, valuing the carrier at up to $12 billion.
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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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Delta Air Lines Inc., working to beat back an $8.4 billion merger bid from US Airways Group Inc., is expected as soon as Tuesday to file a sweeping bankruptcy reorganization plan, The Wall Street Journal said on its Web site, citing people familiar with the matter.
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Delta Air Lines Inc.&#39;s outside auditors question the carrier&#39;s ability to continue as a viable business as it tries to avoid filing for bankruptcy protection.
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NEW YORK, USA  - Delta Air Lines announced an aggressive restructuring plan yesterday that would cut 6,000 to 7,000 jobs and slash costs, while warning that bankruptcy remains &quot;a real possibility&quot;.
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More job cuts are in store at Delta Air Lines as the struggling US carrier tries to avoid bankruptcy court.
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Leaders of US Airways&#39; pilots union late Monday rejected the carrier&#39;s latest contract proposal, a blow to the airline&#39;s attempt to avoid a second bankruptcy filing.
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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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No. 3 US airline gets commitment from GE Commercial Finance as it looks to avoid bankruptcy. NEW YORK  - Delta Air Lines Inc.
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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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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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A U.S. bankruptcy court on Tuesday   allowed Delta Air Lines Inc. DALRQ.PK to terminate its pilot   defined benefit pension plan, clearing a major hurdle in its   restructuring plans.
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Delta Air Lines yesterday announced plans to cut up to 6,900 jobs over the next 18 months as it struggles to avoid bankruptcy. The airline is in the midst of a restructuring designed to cut $5bn (Â£2.