Disney to Take a Charge on Delta Aircraft Leases
From a Times Staff Writer
Walt Disney Co. said it would take a noncash, after-tax charge of $68 million for Delta Air Lines aircraft leases it holds.
Disney, which has lease investments with a book value of $101 million, this month warned investors of a potential write-down just before Delta filed for bankruptcy protection.
Disney said tax payments of as much as $100 million might have to be accelerated if there was a major modification to the leases or if the planes were foreclosed on by Delta’s debt holders. Disney has said it no longer invests in aircraft leases.
