Delta Warns Again It May File for Chapter 11
Delta Air Lines Inc., the third-largest U.S. airline, said again that a Chapter 11 bankruptcy filing might occur if the company can’t reduce costs to stem losses or if cash drops to an “unacceptably low level.â€
Delta warned in a May 10 filing that it might be forced to seek bankruptcy protection if it couldn’t ease terms of loan agreements with General Electric Co. and American Express Co.
The company said June 1 that it was able to change the terms to reduce the requirement for the carrier on earnings, as long as it held more cash.
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