Delta could emerge from bankruptcy as early as April:
Delta Chief Financial Officer Ed Bastian welcomed the deal as another move toward leaving Chapter 11 as an independent airline. Delta has been in bankruptcy more than 16 months.
“The competitive terms and unique structure of this financing package reflect our considerable progress and the soundness of Delta’s standalone plan of reorganization,” he said. “We appreciate the confidence the financial markets are showing by making this commitment in support of Delta’s standalone plan.”
Delta’s creditors face a deadline this Thursday from US Airways, which has offered about $10 billion for Delta in a cash and stock merger proposal that expires that day. A hearing on Delta’s standalone restructuring plan is set for Feb. 7 in bankruptcy court in New York.