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Wed, Sep 11, 2013

Delta Airlines To Be Listed On The S&P 500

Company Much Improved Since 2008 Bankruptcy, 2008 Acquisition Of Northwest Airlines

Delta is now being listed on the S&P 500 index, replacing BMC Software, according to Standard and Poors. The airline was placed on the bellwether list following the close of trading Tuesday.

S&P said that BMC Software was being replaced because of its imminent purchase by Bain Capital, according to a report from Reuters. Delta has significantly improved its bottom line over the past several years after filing for bankruptcy in 2005. It has since acquired Northwest Airlines (2008), and last year purchased an oil refinery in Pennsylvania in an effort to control its fuel costs. It has also put in place a fleet replacement strategy in an effort to replace older, inefficient airplanes.

Delta said in May that it would be returning $1 billion to shareholders over the next three years.

Delta is currently the second-largest airline behind United Continental. That could change if the merger of American Airlines and US Airways is allowed to proceed.

FMI: www.standardandpoors.com

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