Delta Seeks Changes to Debt Securities
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Delta Air Lines Inc. may offer to exchange some debt securities backed by the carrier’s planes in a bid to cut costs and avoid a bankruptcy filing.
The company said it was seeking debt-holder approval to waive restrictions that might prevent Delta from buying or holding the securities, which are backed by aircraft in transactions dating from 1988 to 1996. Delta said was considering options for restructuring the debt.
Delta needs the backing of 51% of the debt holders to remove the restrictions.
Delta’s shares rose 48 cents to $4.07 on the NYSE.
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